Annual license excise tax; taxpayer not exempt
Sec. 12. (a) Effective January 1, 1976, there is hereby imposed an
annual license excise tax upon taxable aircraft, which tax shall be in
lieu of the ad valorem property tax levied for state or local purposes.
No taxable aircraft shall be assessed as personal property for the
purpose of the assessment and levy of personal property or shall be
subject to ad valorem taxes, beginning with taxes for the year of
1975 payable in 1976 and thereafter.
(b) Eligibility of aircraft for a deduction under IC 6-1.1-12.3 does
not exempt a taxpayer from the tax imposed under this chapter on the
aircraft.
(Formerly: Acts 1975, P.L.68, SEC.1.) As amended by P.L.224-2003,
SEC.280.
Last modified: May 28, 2006