Indiana Code 6-6-6.5-12. Annual license excise tax
Current as of: 2023 | Check for updates
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Terms Used In Indiana Code 6-6-6.5-12
- Aircraft: means a device which is designed to provide air transportation for one (1) or more individuals or for cargo. See Indiana Code 6-6-6.5-1
- Personal property: includes goods, chattels, evidences of debt, and things in action. See Indiana Code 1-1-4-5
- Personal property: All property that is not real property.
- Property: includes personal and real property. See Indiana Code 1-1-4-5
- State: means the state of Indiana. See Indiana Code 6-6-6.5-1
- Taxable aircraft: means an aircraft required to be registered with the department by this chapter. See Indiana Code 6-6-6.5-1
Sec. 12. Effective January 1, 1976, there is hereby imposed an annual license excise tax upon taxable aircraft, which tax shall be in lieu of the ad valorem property tax levied for state or local purposes. No taxable aircraft shall be assessed as personal property for the purpose of the assessment and levy of personal property or shall be subject to ad valorem taxes.
Formerly: Acts 1975, P.L.68, SEC.1. As amended by P.L.224-2003, SEC.280; P.L.214-2019, SEC.28.