Excise tax is paid when you register a vehicle. The tax amount is based on the MSRP (manufacturer’s suggested retail price) and the vehicle’s age. Please click here for more information.
To calculate excise tax, multiply the per year amount by each thousand dollar of the MSRP. For example, the first year excise tax for a vehicle with an MSRP of $30,000 would be $720 ($24 x 30). Excise tax for the second year of the vehicle would be $525 ($17.50 x 30).
Excise rates are:
First year =$24.00 per thousand (or 0.0240)
Second year =$17.50 per thousand (or 0.1750)
Third year =$13.50 per thousand (or 0.1350)
Fourth year =$10.00 per thousand (or 0.0100)
Fifth year =$ 6.50 per thousand (or 0.00650)
Sixth and following years =$ 4.00 per thousand (or 0.0040)