Classification of aircraft; tax rate; credits
Sec. 13. (a) As the basis for measuring the tax imposed by this
chapter, the department shall classify every taxable aircraft in its
proper class according to the following classification plan:
CLASS DESCRIPTION
A Piston-driven,
B Piston-driven,
and Pressurized
C Turbine driven
or other Powered
D Homebuilt, Gliders, or
Hot Air Balloons
(b) The tax imposed under this chapter is based on the age, class,
and maximum landing weight of the taxable aircraft. The amount of
tax imposed on the taxable aircraft is based on the following table:
Age Class A Class B Class C Class D
0-4 $.04/lb $.065/lb $.09/lb $.0175/lb
5-8 $.035/lb $.055/lb $.08/lb $.015/lb
9-12 $.03/lb $.05/lb $.07/lb $.0125/lb
13-16 $.025/lb $.025/lb $.025/lb $.01/lb
17-25 $.02/lb $.02/lb $.02/lb $.0075/lb
over 25 $.01/lb $.01/lb $.01/lb $.005/lb
(d) An aircraft owner, who sells an aircraft on which he has paid
the tax imposed under this chapter, is entitled to a credit for the tax
paid. The credit equals excise tax paid on the aircraft that was sold,
times the lesser of: (1) ninety percent (90%); or (2) ten percent
(10%) times the number of months remaining in the registration year
after the sale of the aircraft. The credit may only be used to reduce
the tax imposed under this chapter on another aircraft purchased by
that owner during the registration year in which the credit accrues.
A person may not receive a refund for a credit under this subsection.
(e) A person who is entitled to a property tax deduction under
IC 6-1.1-12-13 or IC 6-1.1-12-14 is entitled to a credit against the tax
imposed on his aircraft under this chapter. The credit equals the
amount of the property tax deduction to which the person is entitled
under IC 6-1.1-12-13 and IC 6-1.1-12-14, minus the amount of that
deduction used to offset the person's property taxes or vehicle excise
taxes, times seven hundredths (.07). The credit may not exceed the
amount of the tax due under this chapter. The county auditor shall,
upon the person's request, furnish a certified statement showing the
credit allowable under this subsection. The department may not
allow a credit under this subsection until the auditor's statement has
been filed in the department's office.
(Formerly: Acts 1975, P.L.68, SEC.1.) As amended by Acts 1977,
P.L.87, SEC.7; Acts 1980, P.L.74, SEC.27; P.L.93-1983, SEC.8.
(Note : Subsection (c) was deleted by 1983 amendment).
Last modified: May 28, 2006