Aircraft subject to tax after regular annual registration date;
reduction of tax
Sec. 15. (a) If a taxable aircraft becomes subject to registration or
taxation after the regular annual registration date in a year, the tax
imposed by this chapter shall become due and payable at the time the
aircraft becomes subject to registration and the amount of tax to be
paid by the owner for the remainder of the year shall be reduced by
the lesser of (1) ninety percent (90%) of the tax or (2) ten percent
(10%) of the tax for each full calendar month which has elapsed
since the regular annual registration date in that year.
(b) The tax reduction under this section shall not apply to persons
who claim a tax credit under section 13(d) of this chapter.
(Formerly: Acts 1975, P.L.68, SEC.1.) As amended by Acts 1977,
P.L.87, SEC.9; P.L.65-1997, SEC.19.
Last modified: May 28, 2006