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Indiana Code Title 6. Taxation § 6-6-11-10

Current as of January 02, 2024 | Updated by Findlaw Staff

Sec. 10. (a) The amount of boat excise tax that a boat owner shall pay for a registration year is based on the boat's class and age.

(b) Boats are classified for excise tax purposes according to the value of the boat when the boat was new.  The amount of excise tax is prescribed in the following table:

BOAT VALUE

CLASS

WHEN NEW

TAX DUE

 

 

 

AT LEAST but

LESS THAN

 

 

1

 

$      0.01

 

$   500

$   2

 

2

500

1,000

6

3

1,000

1,500

20

4

1,500

2,000

30

5

2,000

3,000

42

6

3,000

5,000

55

7

5,000

7,500

70

8

7,500

10,000

88

9

10,000

15,000

110

10

15,000

22,500

150

11

22,500

35,000

200

12

35,000

50,000

275

13

50,000

75,000

375

14

75,000 or more

500

The bureau of motor vehicles may adopt rules under IC 4-22-2 for determining the value of new boats.  A tax paid under subsection (c) may be used as a credit against the taxes owed for the same registration year under this subsection.

(c) Notwithstanding subsection (b), the amount of excise tax imposed and owed by a boat owner is twelve dollars ($12) for a boat that is stored in Indiana for sixty (60) consecutive days or more but not operated, used, or docked in Indiana waters, except to facilitate storage of the boat.

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Cite this article: FindLaw.com - Indiana Code Title 6. Taxation § 6-6-11-10 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-6-taxation/in-code-sect-6-6-11-10/

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