Affidavit for Inspection of an Antique Vehicle - BIPAC

Affidavit for Inspection of an Antique Vehicle - BIPAC Affidavit for Inspection of an Antique Vehicle - BIPAC

10.07.2015 Views

6-6-5-3. Basis for determining value.Title 6 TaxationArticle 6 Motor Fuel and Vehicle TaxesChapter 5 Motor Vehicle Excise TaxInd. Code § 6-6-5-3 (2010)(a) As the basis for measuring the tax imposed by this chapter, the bureau shall determine the value ofeach vehicle as of the time it is first offered for sale as a new vehicle in Indiana. The bureau shall adoptrules for determining the value of vehicles, using the "factory advertised delivered price" or the "port ofentry price".(b) If the bureau is unable to ascertain a value by this method in respect to any vehicle or classof vehicles because the vehicle is a specially constructed vehicle or for any other reason, the bureaushall determine, from any information available, the true tax value subject to review and adjustment bythe department of local government finance.(c) For each vehicle, beginning with the 1990 model year, the bureau shall reduce the value determinedunder subsection (a) or (b) by dividing:(1) the price determined under subsection (a) or (b); by(2) one (1) plus the average percentage increase in new automobile prices using the most recentannual reference to the Consumer Price Index for Private New Automobiles as published by the Bureau ofLabor Statistics, United States Department of Labor.

From Indiana Administrative Code:ARTICLE 2. EXCISE TAX AND REGISTRATIONRule 1. Administration of Motor Vehicle Excise Tax140 IAC 2-1-2 Valuation of vehiclesAuthority: IC 9-14-2-2Affected: IC 6-6-5-3Sec. 2. A vehicle's value used to determine its classification for excise tax purposes shall be based uponthe FADP for eachvehicle make and model, disregarding special equipment, at the time that it is first offered for sale inIndiana. (Bureau of Motor Vehicles; Vehicle Excise Tax Rule II; filed Dec 22, 1971: Rules and Regs. 1972,p. 10; filed Sep 23, 1988, 8:30 a.m.: 12 IR 246;readopted filed Jul 30, 2001, 10:24 a.m.: 24 IR 4228; readopted filed Nov 14, 2007, 1:31 p.m.:20071212-IR-140070562RFA; filedOct 7, 2008, 10:23 a.m.: 20081105-IR-140080215FRA)140 IAC 2-1-3 Valuation of unlisted vehiclesAuthority: IC 9-14-2-2Affected: IC 6-6-5-3; IC 6-6-5-4Sec. 3. Whenever the FADP of a vehicle does not appear in the publication compiling the manufacturer'sprice information, which the bureau uses, because the vehicle is specially constructed, then the vehicleshall be classified according to the FADP for the make and year of the chassis, subject to review by theboard of state tax commissioners. If the chassis' make or year is unknown or cannot be determined, thecustomer shall provide the bureau with receipts to determine the cost to build such vehicle. Then, thebureau shall classify the vehicle in the appropriate class based on the bureau's determination of thevehicle's value. (Bureau of Motor Vehicles; Vehicle Excise Tax Rule III; filed Dec 22, 1971: Rules andRegs. 1972, p. 10; filed Sep 23, 1988, 8:30 a.m.: 12 IR 246; readopted filed Jul 30, 2001, 10:24 a.m.:24 IR 4228; readopted filed Nov 14, 2007, 1:31 p.m.: 20071212-IR-140070562RFA; filed Oct 7, 2008,10:23 a.m.: 20081105-IR-140080215FRA)

6-6-5-3. Basis <strong>for</strong> determining value.Title 6 TaxationArticle 6 Motor Fuel <strong>an</strong>d <strong>Vehicle</strong> TaxesChapter 5 Motor <strong>Vehicle</strong> Excise TaxInd. Code § 6-6-5-3 (2010)(a) As the basis <strong>for</strong> measuring the tax imposed by this chapter, the bureau shall determine the value <strong>of</strong>each vehicle as <strong>of</strong> the time it is first <strong>of</strong>fered <strong>for</strong> sale as a new vehicle in Indi<strong>an</strong>a. The bureau shall adoptrules <strong>for</strong> determining the value <strong>of</strong> vehicles, using the "factory advertised delivered price" or the "port <strong>of</strong>entry price".(b) If the bureau is unable to ascertain a value by this method in respect to <strong>an</strong>y vehicle or class<strong>of</strong> vehicles because the vehicle is a specially constructed vehicle or <strong>for</strong> <strong>an</strong>y other reason, the bureaushall determine, from <strong>an</strong>y in<strong>for</strong>mation available, the true tax value subject to review <strong>an</strong>d adjustment bythe department <strong>of</strong> local government fin<strong>an</strong>ce.(c) For each vehicle, beginning with the 1990 model year, the bureau shall reduce the value determinedunder subsection (a) or (b) by dividing:(1) the price determined under subsection (a) or (b); by(2) one (1) plus the average percentage increase in new automobile prices using the most recent<strong>an</strong>nual reference to the Consumer Price Index <strong>for</strong> Private New Automobiles as published by the Bureau <strong>of</strong>Labor Statistics, United States Department <strong>of</strong> Labor.

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