Rev. & Tax. Code, § 6010.65 · Chapter 1. General Provisions and Definitions
Rev. & Tax. Code, § 6010.65
Text — As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
(a) “Sale” and “purchase,” for purposes of this part, do not include any transfer of title to, nor any lease of, tangible personal property pursuant to an acquisition sale and leaseback. An acquisition sale and leaseback is a sale by a person and leaseback to that person of tangible personal property where both of the following conditions are satisfied:
(1) That person has paid sales tax reimbursement or use tax with respect to that person’s purchase of the property.
(2) The acquisition sale and leaseback is consummated within 90 days of that person’s first functional use of the property.
(b) “Sale” and “purchase” include, for purposes of this part, the transfer of title to a lessee upon termination of an acquisition sale and leaseback.
(c) This section shall apply to acquisition sale and leaseback arrangements executed on or after the operative date of this section.
Notes and commentary — not statutory text
History
Amended by Stats. 1994, Ch. 286, Sec. 1. Effective July 21, 1994.
Source of truth
- Edition
- As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
- Official file
- https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=RTC§ionNum=6010.65.
- Text hash
- sha256 84343df07013782411c53a7ac42ea58836658828b3621b98e98ed3ca9480b7ae
- Composed by
- compose_ca.py 2026-10-22: the Legislative Counsel's CAML content files read by a tokenizer (caml_readers.reader_a); an independent xml.etree reading (caml_readers.reader_b) agrees on every section
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.