STEP ONE: Determine the number of months remaining until the vehicle's next registration date under IC 9-18.1-11. A partial month shall be rounded to one (1) month.
STEP TWO: Multiply the STEP ONE result by one-twelfth (1/12).
STEP THREE: Multiply the STEP TWO product by the applicable registration fee under subsection (a) or (b) for the vehicle.
A fee imposed and collected under this subsection that is not collected under the International Registration Plan shall be distributed under subsection (c). A fee imposed and collected under this subsection that is collected under the International Registration Plan shall be distributed under subsection (d).
IC 9-18.1-6-4
Pre-2016 Revision Citations: 9-29-5-30; subsection (b) formerly 9-29-5-30.1.