140 Ind. Admin. Code 2-1-2

Current through September 18, 2024

Section 140 IAC 2-1-2 - Valuation of vehicles and watercraft

Authority: IC 9-14-8-3

Affected: IC 6-6-5; IC 6-6-11

Sec. 2.

(a) A vehicle's value used to determine its classification for excise tax purposes in IC 6-6-5 shall be based upon the FADP for each vehicle make and model, based on the information available in the vehicle identification number, at the time that it is first offered for sale in Indiana.

(b) A boat's value used to determine its classification for excise tax purposes of IC 6-6-11 shall be based upon the amount listed on:

(1) the certificate of origin;

(2) the Indiana department of state revenue form that reflects the purchase price;

(3) the boat's value as determined by the manufacturer; or

(4) any other information known to the bureau regarding the boat's value.

140 IAC 2-1-2

Bureau of Motor Vehicles; Vehicle Excise Tax Rule II; filed Dec 22, 1971: Rules and Regs. 1972, p. 10; filed Sep 23, 1988, 8:30 a.m.: 12 IR 246; readopted filed Jul 30, 2001, 10:24 a.m.: 24 IR 4228; readopted filed Nov 14, 2007, 1:31 p.m.: 20071212-IR-140070562RFA; filed Oct 7, 2008, 10:23 a.m.: 20081105-IR-140080215FRA

Readopted filed 11/3/2014, 1:43 p.m.: 20141203-IR-140140375RFA

Filed 10/5/2017, 9:34 a.m.: 20171101-IR-140160492FRA

The readopted version of this section by 6/28/2023, 2:55 p.m.: 20230726-IR-140230399RFA is not yet available.