140 IAC 2-1-2
140 IAC 2-1-2 Valuation of vehicles and watercraft
Cite as Ind. Admin. Code tit. 140, r. 2-1-2
Sec. 2. (a) A vehicle's value used to determine its classification for excise tax purposes in IC 6-6-5 shall be based upon the FADP
for each vehicle make and model, based on the information available in the vehicle identification number, at the time that it is first offered for sale
in Indiana.
(b) A boat's value used to determine its classification for excise tax purposes of IC 6-6-11 shall be based upon the amount listed
on:
(1) the certificate of origin;
(2) the Indiana department of state revenue form that reflects the purchase price;
(3) the boat's value as determined by the manufacturer; or
(4) any other information known to the bureau regarding the boat's value.