Indiana Code Title 6. Taxation § 6-9-36-3

(1) The rate of the tax equals one percent (1%) of the gross retail income on the transaction.  For purposes of this chapter, the gross retail income received by the retail merchant from such a transaction does not include the amount of tax imposed on the transaction under IC 6-2.5 or this chapter.

(2) The fiscal body shall immediately send a certified copy of the ordinance to the commissioner of the department of state revenue.

(3) The tax applies to transactions that occur after the last day of the month that follows the month in which the ordinance was adopted.

(4) The fiscal body may adopt an ordinance to rescind the tax.  The rescission of the tax takes effect after the last day of the month that follows the month in which the ordinance to rescind the tax is adopted.  However, the fiscal body may not rescind the tax if there are bonds outstanding or leases or other obligations for which the tax has been pledged under IC 36-7.5.