Qualified heavy equipment property: any construction, earthmoving, or industrial equipment that is mobile and rented by a qualified renter, including attachments for the equipment or other ancillary equipment or tools. Qualified heavy equipment property is mobile if it is not permanently affixed to real property and is moved amongst worksites.
Qualified rental: "qualified heavy equipment property" that is rented for 365 days or less, or pursuant to an open-ended contract, or through a contract without a specified time period.
Qualified renter: as a renter:
- (i) whose primary business is renting out qualified heavy equipment property. Primary business means over 51% of the annual revenue of the business in any given year; and
- (ii) that is engaged in a line of business described in Code 532412 or 532310 of the North American Industry Classification System published by the U.S. Census Bureau, 2012 edition.
Rental price: the amount of the charge for renting the qualified heavy equipment, excluding any separately stated charges that are not rental charges, including, but not limited to, separately stated charges for delivery and pickup fees, damage waivers, environmental fees, sales tax, or any other ancillary charge.
