IC 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.