"Passenger motor vehicle" and "truck" defined; credits for rental
vehicles; inspection of records; penalty
Sec. 6.7. (a) As used in this section, "passenger motor vehicle"
and "truck" have the meanings set forth for those terms in
IC 9-13-2-123(a) and IC 9-13-2-188(a).
(b) Every owner of a passenger motor vehicle or passenger
motor vehicles or of a truck or trucks who during a registration year
regularly rents those vehicles or trucks for periods of under thirty
(30) days to others in the regular course of the owner's business is
entitled to a credit against the motor vehicle excise tax liability owed
for those passenger motor vehicles or trucks for that registration year.
The maximum credit an owner is entitled to claim against the tax
owed for all those passenger motor vehicles and trucks for a
registration year under this section equals the lesser of:
(1) the total motor vehicle excise taxes due for those passenger
motor vehicles and trucks for that registration year, before the
application of the credit allowed by this section; or
(2) the total auto rental excise taxes collected by the owner
during the immediately preceding registration year.
(c) A passenger motor vehicle or truck is regularly rented by a
person in the regular course of the person's business during a
registration year if the passenger motor vehicle or truck is rented by
the person to another person an average of ten (10) days each month
of the registration year that the person owned the passenger motor
vehicle or truck.
As added by P.L.79-1985, SEC.2. Amended by P.L.335-1989(ss),
SEC.10; P.L.2-1991, SEC.45.
Last modified: May 28, 2006