Indiana Code
Chapter 5.5. Commercial Vehicle Excise Tax
6-6-5.5-8.5. Credit

Sec. 8.5. (a) The owner of a vehicle for which the commercial vehicle excise tax has been paid for the registrant's annual registration year is entitled to a credit if during that registration year:
(1) the owner sells the vehicle and purchases a new vehicle of the same or greater weight;
(2) the vehicle is destroyed and replaced with a vehicle of the same or greater weight; or
(3) the vehicle was registered in error at a greater weight than required.
(b) Except as provided in subsection (c), the amount of the credit is equal to the remainder of:
(1) the commercial vehicle excise tax paid for the vehicle, reduced by;
(2) one-twelfth (1/12) for each full or partial calendar month that has elapsed in the registrant's annual registration year before the date of the sale or replacement of the vehicle.
The credit applies to the tax due on any other vehicle purchased or subsequently registered by the owner in the same registrant's annual registration year.
(c) The owner of a vehicle registered in error at a greater weight than required is entitled to receive a credit equal to the commercial vehicle excise tax paid for the vehicle registered at the greater weight. However, no refund may be provided for any remainder of the tax paid when registering the vehicle at a lower weight.
(d) The owner of a vehicle is not entitled to a refund of any part of a credit that is not used under this section.
(e) A credit expires at the end of the registrant's annual registration year.
(f) To claim the credit authorized in subsection (a)(1), the owner of the vehicle must present to the bureau proof of the sale of the vehicle.
(g) To claim the credit authorized in subsection (a)(2), the owner of the vehicle must present to the bureau a statement of proof of the destruction of the vehicle on an affidavit furnished by the bureau. The owner must also present a valid registration for the vehicle within ninety (90) days after the date that it was destroyed. For purposes of this subsection, a vehicle is considered destroyed if the estimated cost of repair exceeds the vehicle's fair market value. After receipt of the statement and registration, the bureau shall fix the amount of the credit that the owner is entitled to receive.
(h) To claim the credit authorized under subsection (a)(3), the owner of the vehicle must present to the bureau on an affidavit furnished by the bureau evidence acceptable to the bureau that the vehicle was registered in error at a greater weight than required.
As added by P.L.129-2001, SEC.19.