26 CAR § 30-1133. Exemptions from tax — Vessels, barges, and towboats of at least 50 tons load displacement — Railroad cars, parts, and equipment

(a) The gross receipts or gross proceeds derived from the sale of vessels, barges, and towboats of at least fifty (50) tons load displacement are exempt from the tax. (b) The gross receipts or gross proceeds derived from the sale of parts and labor used in the repair and construction of vessels, barges, and towboats of at least fifty (50) tons load displacement are exempt from the tax. (c)(1) The gross receipts or gross proceeds derived from the sale or lease of railroad rolling stock manufactured for use in transporting persons or property in interstate commerce are exempt from the tax. (2) For purposes of this section, “railroad rolling stock” means completed railroad locomotives and railroad cars designed to haul either passengers or freight and includes repair parts and materials used to repair railroad locomotives and railroad cars. (3) Railroad rolling stock does not include machinery used to repair or maintain railroad cars, locomotives, track, railroad ties, or railroad roadway. (d) The gross receipts or gross proceeds derived from the sale of parts or labor used in the repair and maintenance of railroad parts, railroad cars, and equipment owned or leased by railroad companies or carriers are exempt from the tax.