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.
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; P.L.164-2020, SEC.8.