PUBLIC LAW 101-508—NOV. 5, 1990 104 STAT. 1388-439 " PART I. IMPOSITION OF TAXES "Subpart A. Passenger vehicles, boats, and aircraft. "Subpart B. Jewelry and furs. "Subpart A—Passenger Vehicles, Boats, and Aircraft "Sec. 4001. Passenger vehicles. "Sec. 4002. Boats. "Sec. 4003. Aircraft. "Sec. 4004. Rules applicable to subpart A. "SEC. 4001. PASSENGER VEHICLES. "(a) IMPOSITION OF TAX.— T here is hereby imposed on the 1st retail sale of any passenger vehicle a tax equal to 10 percent of the price for which so sold to the extent such price exceeds $30,000. "O J) PASSENGER VEHICLE.— "(1) IN GENERAL.— For purposes of subsection (a), the term 'passenger vehicle' means any 4-wheeled vehicle— "(A) which is manufactured primarily for use on public streets, roads, and highways, sind "(B) which is rated at 6,000 pounds unloaded gross vehicle weight or less. "(2) SPECIAL RULES.— "(A) TRUCKS AND VANS.— In the case of a truck or van, paragraph (1)(B) shall be applied by substituting 'gross vehicle weight' for 'unloaded gross vehicle weight'. "(B) LIMOUSINES.— In the case of a limousine, paragraph (1) shall be applied without regard to subparagraph (B) thereof. "(c) EXCEPTIONS FOR TAXICABS, ETC. —The tax imposed by this section shall not apply to the sale of any passenger vehicle for use by the purchaser exclusively in the active conduct of a trade or business of transporting persons or property for compensation or hire. "SEC. 4002. BOATS. "(a) IMPOSITION OF TAX. — There is hereby imposed on the 1st retail sale of any boat a tax equal to 10 percent of the price for which so sold to the extent such price exceeds $100,000. "(b) EXCEPTIONS.—The tax imposed by this section shall not apply to the sale of any boat for use by the purchaser exclusively in the active conduct of— "(1) a trade or business of commercial fishing or transporting persons or property for compensation or hire, or "(2) any other trade or business unless the boat is to be used predominantly in any activity which is of a t5T)e generally considered to constitute entertainment, amusement, or recreation. "SEC. 4003. AIRCRAFT. "(a) IMPOSITION OF TAX.— T here is hereby imposed on the 1st retail sale of any aircraft a tax equal to 10 percent of the price for which so sold to the extent such price exceeds $250,000. "(b) AIRCRAFT.— For purposes of this section, the term 'aircraft' means any aircraft— "(1) which is propelled by a motor, and "(2) which is capable of carrying 1 or more individuals. " (c) 8() PERCENT GENERAL BUSINESS USE. —
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