Indiana Code 7.1-4-3-1. Rate of tax
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Terms Used In Indiana Code 7.1-4-3-1
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
Sec. 1. Rate of Tax. An excise tax at the rate of two dollars and sixty-eight cents ($2.68) a gallon is imposed upon the sale, gift, or the withdrawal for sale or gift, of liquor and wine that contains twenty-one percent (21%), or more, of absolute alcohol reckoned by volume.
[Pre-1973 Recodification Citations: 7-1-1-41(b); 7-2-1-17(b); 7-4-1-1.]
Formerly: Acts 1973, P.L.55, SEC.1; Acts 1973, P.L.56, SEC.11. As amended by Acts 1977(ss), P.L.9, SEC.5; Acts 1981, P.L.103, SEC.2.