3. The rolling stock must be "used in interstate commerce."
3. Parts or other tangible personal property affixed to or to be affixed to and directly used in the operation of either a qualified truck or trailer. This also includes parts or other property that are purchased and affixed to a truck or trailer after the original purchase. Items that may be exempt include, but are not limited to, GPS systems, in-cab heaters, alternate power units, straps, chains, and refrigeration units.
In the case where purchases occurred but the exemption wasn't utilized, a refund opportunity could exist on sales or use tax paid. Analyze past purchases, as Michigan generally allows for a four year look- back period on overpaid taxes.
For more information or questions on this exemption, please contact your local UHY LLP professional or visit us on the web at www.uhy-us.com.
By Susan Wagner