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MARVIN MANDEL, Governor 2711
original certificate of title required for a vessel under
this subtitle, and on the issuance of every subsequent
certificate of title for the sale, resale, or transfer of
the vessel as follows:
(1) The Department shall collect a tax at the
rate of [4] 5 percent of the gross sales price or, if no
sale immediately precedes the application for title, the
fair market value of the vessel for which a certificate
of title is applied for and issued. The Department may
require the applicant to submit satisfactory proof of the
vessel's gross sales price or fair market value in order
to establish the tax due.
(2) The tax imposed by this subsection is in
lieu of collecting any tax on the sale of vessel required
under Article 81, §§ 325 or 373 unless otherwise exempt
from the tax.
(3) Notwithstanding the provisions of this
subsection, no tax is paid on issuance of any certificate
of title if the owner of the vessel for which a
certificate of title is sought was the owner of the
vessel prior to June 1, 1965, or if he paid Maryland
sales tax on the vessel as required by law at the time of
acquisition. The Department may require the applicant
for titling to submit satisfactory proof that he owned
the vessel prior to June 1, 1965.
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SECTION 2. AND BE IT FURTHER ENACTED, That this Act
shall take effect June 1, 1977.
Approved May 26, 1977.
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CHAPTER 674
(Senate Bill 352)
AN ACT concerning
Sales and Use Taxes
FOR the purpose of increasing the rate of the State
retail sales tax on the sale of certain tangible
personal property or services after a certain date;
amending the vendor's rate of commission on taxable
sales; increasing the rate of the State use tax on
the use, storage, or consumption of certain tangible
personal property or services after a certain date;
amending the vendor's rate of commission under the
use tax law; providing exceptions and effective
date; clarifying language; and relating generally to
the State sales and use taxes.
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