61-3-529. Schedule of fees for buses, motor vehicles having rated capacity of more than 1 ton, and truck tractors -- proration -- exemption. (1) (a) There is an annual fee in lieu of property tax imposed on buses, trucks having a manufacturer's rated capacity of more than 1 ton, and truck tractors. The fee is in addition to annual registration fees.

(b) The fee imposed by subsection (1)(a) is not required to be paid by a dealer of buses, trucks, or truck tractors that constitute inventory of the dealership.

(2) Subject to the conditions of subsection (4), the owner of a bus, truck with a manufacturer's rated capacity of more than 1 ton, or truck tractor shall pay a fee in lieu of tax based on the age and manufacturer's rated capacity of the motor vehicle according to the following schedule:

(3) The age of the motor vehicle must be determined under 61-3-501.

(4) (a) The manufacturer's rated capacity for a bus or truck with a manufacturer's rated capacity of more than 1 ton is the manufacturer's rated gross vehicle weight.

(b) The manufacturer's rated capacity for a truck tractor is the manufacturer's rated gross combined weight.

(5) Except as provided in 61-3-520, the fee in lieu of tax on a motor vehicle subject to this section that is brought or driven into this state by a nonresident person for hire, compensation, or profit must be prorated as determined and paid under 61-3-701.

(6) The fee in lieu of tax may not be refunded.

History: En. Sec. 33, Ch. 496, L. 1997; amd. Secs. 2, 3, 4, Ch. 500, L. 2001; amd. Sec. 118, Ch. 542, L. 2005; amd. Sec. 94, Ch. 596, L. 2005.