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PARRIS N. GLENDENING, Governor
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Ch. 272
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2. $100; or
(iii) As to any other vessel that is sold by any person other than a
licensed dealer, either:
1. The total purchase price, if verified by means of a certified
bill of sale approved by the Department, in which the actual price paid for the vessel
is stated; or
2. The valuation shown in a national publication of used
vessel values adopted by the Department if a certified bill of sale does not accompany
the application.
(3) "Used principally in this State" means that this State is the state of
principal use as defined in § 8-701(o) of this subtitle, except that in calculating where
the vessel is used or used most, a vessel is not considered to be in use for any period
of time that it is held for maintenance or repair for 30 consecutive days or more.
(4) "SEA TRIAL" MEANS A PERIOD OF UNDERWATER ON-THE-WATER
OPERATIONS, NOT TO EXCEED 1 DAY, THAT IS CONDUCTED:
(I) FOR THE PURPOSE OF TESTING THE EFFECTIVENESS OF
SPECIFIC REPAIRS OR MAINTENANCE PROCEDURES; OR
(II) FOR A VESSEL HELD FOR RESALE BY A LICENSED DEALER
UNDER THIS SECTION.
(5) "Total purchase price" means the price of a vessel, including
simultaneously purchased motors, spars, sails, and accessories exclusive of trailer,
agreed on by the buyer and seller, with no deduction for trade-in or other
nonmonetary consideration.
[(5)] (6) (i) "Vessel" has the meaning indicated in § 8-701(r) of this
subtitle.
(ii) "Vessel" does not include a ship's lifeboat, a vessel propelled
only by sail, or vessel manually propelled.
(e) A person is not required to pay the tax provided for in subsection (c) of this
section resulting from:
(1) A transfer between members of the immediate family as determined
by Department regulations;
(2) A transfer to a licensed dealer of a vessel for [resale, rental, or lease]
RESALE purposes;
(3) THE HOLDING OF A VESSEL THAT IS TITLED OR NUMBERED IN
ANOTHER STATE OR IS FEDERALLY DOCUMENTED, PROVIDED:
(I) THE VESSEL IS HELD FOR RESALE OR LISTED FOR RESALE BY A
LICENSED DEALER; AND
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- 2085 -
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