Belterra Resort Indiana, LLC (Belterra) appeals the Indiana Department of State Revenue’s (Department) proposed assessment of use tax for the 2000 tax year (year at issue). Although the parties raise several issues in their motions, the dispositive issue in this case is whether Belterra’s acquisition of its riverboat casino is subject to use tax.
Conclusion (slip op. at 7): Belterra is not subject to use tax on its acquisition of the Miss Belterra. Accordingly, Belterra’s motion for summary judgment is granted, and the Department’s motion for summary judgment is denied.
Key Analysis (slip op. at 5, 6, 7): Although Belterra used the Miss Belterra in Indiana, it did not acquire it in a retail transaction . . . Belterra did not give consideration in the form of stock in exchange for the Miss Belterra . . . Because Belterra’s stated business purpose is facially valid, the Court concludes that Belterra’s transaction was not a sham.