Form 44605 - Title Name Change Procedure - Form 241

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TITLE NAME CHANGE PROCEDURE - FORM 241
State Form 44605 (R4 / 5-07)
* This agency is requesting disclosure of your Social Security number in accordance with IC 4-1-8-1. Disclosure is mandatory and this record cannot be processed without it.
The title name change procedure (Form 241) is used to determine if consideration is involved in a transfer of ownership.
If approved, the applicant will be allowed to transfer the license plates and excise tax and receive a sales tax exemption.
In order for an applicant to apply for the sales tax exemption, the Form 241 on the reverse side must be completed in
its entirety. Once the form is completed, the applicant must mail or fax the request to the address or fax number on
the reverse side. In order to expedite this request, please include all supporting documentation. If approved, a letter
of approval will be forwarded to the applicant. This approval letter must be presented to the license branch to receive
the sales tax exemption.
Because the applicant is requesting that determination be made as to his sales tax liability, it is important to understand
the situations that will generally be labeled as a taxable transaction and will NOT qualify for any sales tax exemption
or the opportunity to transfer license plates and the corresponding excise tax. The assignments listed below generally
DO NOT qualify for sales tax exemption or the opportunity to transfer license plates or excise tax:
1. Corporation to Individual
2. Corporation to Corporation
The assignments below generally qualify for sales tax exemption:
1. Individual to Company (transfers between the same legal entity)
2. Company to Individual (transfers between the same legal entity)
3. Individual to Corporation (in exchange for stock, no assumption of loans)
4. Individual to Limited Liability Corporation (LLC) (in exchange for ownership interest, no assumption of loans)
5. Corporate Name Change Only
6. Wholly Owned Subsidiary Formerly Titled by Parent Corporation (no assumption of loans)
7. Merger of Two Corporations
8. Corporate Dissolution (in exchange for the canceled stock, no assumption of loans)
In these situations, transfer of license plate(s), excise tax and sales tax exemption are generally allowed.
Some situations may be forwarded to the Indiana Department of Revenue for further review.
Once your paperwork is reviewed and you are notified that your exemption has been approved OR denied, (if denied,
you will be required to pay sales tax), you must visit any Indiana license branch within 60 days from the date of the BMV
response to complete the name change. Failure to do so within the prescribed time frame may necessitate another
request for title name change.

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