2022 Indiana Code
Title 6. Taxation
Article 3.1. State Tax Liability Credits
Chapter 34.6. Tax Credit for Natural Gas Powered Vehicles
6-3.1-34.6-8. Credit Claims; Credit Amounts; Claims for Vehicles Placed Into Service in 2013
Sec. 8. (a) Subject to subsection (c), a person that places a qualified vehicle into service in a particular taxable year may claim a credit against the person's state tax liability for that taxable year.
(b) Subject to sections 9 and 10 of this chapter, the amount of the credit that may be claimed for placing a qualified vehicle into service is the amount determined in STEP THREE of the following formula:
STEP ONE: Determine the difference between:
(A) the price of the qualified vehicle; and
(B) the price of a similarly equipped vehicle of the same make and model that is powered by a gasoline or diesel engine.
STEP TWO: Multiply the STEP ONE result by fifty percent (50%).
STEP THREE: Determine the lesser of:
(A) the STEP TWO result; or
(B) fifteen thousand dollars ($15,000).
(c) To the extent that a person claims a credit under this chapter for placing a qualified vehicle into service in 2013, the person may claim such a credit only against any state gross retail tax and use tax liability incurred by the person on transactions occurring after June 30, 2015, that involve a natural gas product (as defined by IC 6-6-2.5-16.5) and that are subject to taxation under IC 6-2.5 because the provisions of IC 6-2.5-5-27(b) exclude those transactions involving a natural gas product from the exemption provided in IC 6-2.5-5-27.
As added by P.L.277-2013, SEC.6. Amended by P.L.213-2015, SEC.88.
