Section 6-6-11-10 - Amount of tax; computation(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.Amended by P.L. 164-2020,SEC. 8, eff. 1/1/2021.As added by P.L. 98-1989, SEC.1. Amended by P.L. 33-1990, SEC.17; P.L. 71-1991, SEC.1; P.L. 81-1993, SEC.2; P.L. 64-1996, SEC.1.