Sec. 3. (a) An excise tax, known as the heavy equipment rental excise tax, is imposed upon the rental of heavy rental equipment from a retail merchant in Indiana and received from the retail merchant in Indiana. Equipment rented from a location outside Indiana is exempt from the excise tax.
(b) The heavy equipment rental excise tax imposed under this chapter is two and twenty-five hundredths percent (2.25%) of the gross retail income received by the retail merchant for the rental.
(c) A retail merchant subject to the heavy rental equipment excise tax is required to collect and remit the excise tax on all rentals of tangible personal property.
As added by P.L.188-2018, SEC.3. Amended by P.L.234-2019, SEC.26.
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