Sec. 11. The boat excise tax due under section 10 of this chapter is reduced by ten percent (10%) for each year since the model year of the boat, not to exceed fifty percent (50%). The reduced excise tax liability shall be rounded upward to the next full dollar amount. However, the boat excise tax due for a year may not be reduced to less than six dollars ($6) for a Class 2 boat or two dollars ($2) for a Class 1 boat.
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