§ 31202
88 words·~1 min read·
/ca/revenue-and-taxation-code/31202A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
For purposes of this part, all of the following definitions shall apply:
(a)“Heavy equipment property” means rental property of a qualified heavy equipment renter.
(b)“Qualified heavy equipment renter” means a renter that satisfies both of the following:
(1)The principal business of the renter is the rental of heavy equipment property.
(2)The renter is engaged in a line of business described in Code 532412 or 532310 of the North American Industry Classification System published by the United States Office of Management and Budget, 2012 edition.