indiana excise tax on heavy equipment rental

Starting January 1 2019 Indiana will implement a new excise tax on the rental of heavy equipment and construction equipment. 2021 Indiana Code Title 6.

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Section 27 of SEA 565-2019 effective July 1 2019 expanded the list of heavy rental equipment that is exempt from excise taxation to include any of the following.

. As stated in 6-6-15-3 the excise tax will be 225 of the gross retail income received by the retail merchant for the. The rental excise tax is 225 percent of the gross retail rental. The rental excise tax is 225 of the gross retail rental income.

Heavy Equipment Rental Excise Tax The heavy equipment rental excise tax is imposed on the gross retail income received from the rental of tangible personal property from a business in. To qualify the rental period must not exceed 365 days or must be open ended with no specified end date. What is the Indiana Heavy Equipment Excise Tax.

Provides that the excise taxes distributed to the units before January 1 2020 must be deposited in the units excess levy fund. Section 6-6-15-6 - Payment and sourcing of the tax. The heavy equipment rental excise tax applies to the rental of all personal.

A All revenues collected from the heavy equipment rental excise tax. The new Indiana excise tax will be assessed on. The Indiana Department of Revenue has issued a directive from the commissioner regarding the states new heavy equipment rental excise tax effective January 1 2019.

Provides that after December 31 2019 excise. The tax was created. The renter is liable for the tax and it will be.

The Indiana Department of Revenue published Commissioners Directive on January 24. A All revenues collected from the heavy equipment rental excise tax must be deposited in a special account of the state general fund called the heavy equipment rental excise tax account. The directive outlines a new tax on heavy equipment rental transactions.

Indiana has enacted a new excise tax on the rental of heavy equipment. Credit for misclassification Section 6-6-15-7 - Heavy equipment rental excise tax account. Indiana implemented a new excise tax on the rental of heavy equipment that took effect on January 1 2019.

Distributions and apportionment of the tax Make. Beginning on January 1. Motor Fuel and Vehicle Excise Taxes Chapter 15.

Imposes a rental excise tax on the rental of. B On or before April 30 and October 30 of each year all amounts held in the heavy equipment rental excise tax account must be distributed to counties as. 1 2019 Indiana implemented a new excise tax on the rental of heavy equipment from a location in Indiana.

Provides that the owner of a motorized heavy equipment vehicle is required to register the vehicle each year with the department of state revenue. During the legislative session of the Indiana General Assembly for 2018 the state of Indiana enacted and the Governor signed into law House Enrolled Act No. The legislation imposes a new excise tax upon the rental of heavy rental.

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