Section 6-6-5.5-10 - Tax on registered vehicles(a) A vehicle subject to the International Registration Plan that is registered after the date designated for registration of the vehicle under IC 9-18-2-7 (before its expiration), under IC 9-18.1-13, or under rules adopted by the department shall be taxed at a rate determined by the following formula: STEP ONE: Determine the number of months remaining until the vehicle's next registration date. A partial month shall be rounded to one (1) month.
STEP TWO: Multiply the STEP ONE result by one-twelfth (1/12).
STEP THREE: Multiply the annual excise tax for the vehicle by the STEP TWO product.
(b) A vehicle that is registered with the department under IC 9-18-2-4.6 (before its expiration) or IC 9-18.1-13-3 or the bureau after the date designated for registration of the vehicle under IC 9-18-2-7 (before its expiration) or IC 9-18.1 shall be taxed at a rate determined by the formula set forth in subsection (a).(c) This subsection applies after December 31, 2016. A vehicle described in subsection (a) or (b) that has a renewal registration period described in IC 9-18.1-11-3(b) shall be taxed at the annual excise tax rate for the vehicle's current registration period.Amended by P.L. 257-2017,SEC. 13, eff. 4/28/2017.Amended by P.L. 198-2016, SEC. 49, eff. 7/1/2016.As added by P.L. 181-1999, SEC.2.