Rate of tax

Sec. 1. An excise tax, known as the liquor excise tax, is imposed at the rate of two dollars and sixty-eight cents ($2.68) a gallon upon the sale, gift, or the withdrawal for sale or gift, of liquor and wine that contains twenty-one percent (21%), or more, of absolute alcohol reckoned by volume. [Pre-1973 Recodification Citations: 7-1-1-41(b); 7-2-1-17(b); 7-4-1-1.] Formerly: Acts 1973, P.L.55, SEC.1; Acts 1973, P.L.56, SEC.11. As amended by Acts 1977(ss), P.L.9, SEC.5; Acts 1981, P.L.103, SEC.2; P.L.128-2026, SEC.84.