2020 Indiana Code
Title 6. Taxation
Article 2.3. Utility Receipts Tax
Chapter 2. Imposition
6-2.3-2-2. Tax Rate
Sec. 2. (a) The receipt of taxable gross receipts from transactions is subject to a tax rate of:
(1) for taxable years beginning before January 1, 2021, one and four-tenths percent (1.4%); and
(2) for taxable years beginning after December 31, 2020, a rate determined by the department under subsection (b).
(b) Before September 1, 2020, and before September 1 of each year thereafter, the department shall determine the tax rate that applies in taxable years beginning in the following calendar year and shall publish the tax rate in the Indiana Register. The department shall determine the tax rate by calculating a tax rate that if applied to the taxable gross receipts for the immediately preceding state fiscal year would have resulted in two hundred two million one hundred forty-nine thousand one hundred seventy-two dollars ($202,149,172) of net utility receipts and utility services use taxes, after the application of any coal gasification technology investment tax credit, being owed for the immediately preceding state fiscal year.
As added by P.L.192-2002(ss), SEC.47. Amended by P.L.234-2019, SEC.2.
