Citations Affected: IC 6-2.5-3-5.
Synopsis: Use tax credit. Provides that a person who pays a sales tax
to another state on the purchase of a vehicle, watercraft, or aircraft that
is required to be titled, registered, or licensed by Indiana is entitled to
a credit against the Indiana use tax.
Effective: July 1, 2003.
January 21, 2003, read first time and referred to Committee on Finance.
A BILL FOR AN ACT to amend the Indiana Code concerning
IS AMENDED TO READ AS
FOLLOWS [EFFECTIVE JULY 1, 2003]: Sec. 5.
(a) A person is
entitled to a credit against the use tax imposed on the use, storage, or
consumption of a particular item of tangible personal property equal to
the amount, if any, of sales tax, purchase tax, or use tax paid to another
state, territory, or possession of the United States for the acquisition of
(b) The credit provided under subsection (a) does not apply to the
use tax imposed on the use, storage, or consumption of vehicles,
watercraft, or aircraft that are required to be titled, registered, or
licensed by Indiana.
SECTION 2. [EFFECTIVE JULY 1, 2003] IC 6-2.5-3-5 , as amended by this act, applies to retail transactions occurring after June 30, 2003.