Name change causing change in payment date; adjustment of tax
liability
Sec. 19. If the name of the owner of a boat is legally changed and
the change has caused a change in the owner's annual tax payment
date, the excise tax liability of the owner shall be adjusted as
follows:
(1) If the name change requires the owner to pay the excise tax
sooner than the owner would have been required to pay if there
had been no name change, the owner shall, at the time the name
change is reported, be authorized a refund from the county
treasurer in the amount of the product of:
(A) ten percent (10%) of the owner's last preceding annual
excise tax liability; multiplied by
(B) the number of full calendar months between the owner's
new tax payment month and the tax payment month that is
based on the owner's former name.
(2) If the name change requires the owner to pay the excise tax
later than the owner would have been required to pay if there
had been no name change, the boat is subject to excise tax for
the period between the month in which the owner would have
been required to pay if there had been no name change and the
new tax payment month. The tax is the product of:
(A) ten percent (10%) of the owner's excise tax liability
computed as of the time the owner would have been required
to pay the excise tax if there had been no name change;
multiplied by
(B) the number of full calendar months between the month
in which the owner would have been required to pay if there
had been no name change and the owner's new tax payment
month.
As added by P.L.98-1989, SEC.1.
Last modified: May 28, 2006