Apportioned income of taxpayer not filing combined return
Applied in 1 court decision — leading case Salin Bancshares, Inc. v. Indiana Department of Revenue (2000)
Most recently applied in Salin Bancshares, Inc. v. Indiana Department of Revenue (October 2000)
As added by P.L.347-1989(ss), SEC.1
Sec. 3. For a taxpayer that is not filing a combined return, the taxpayer's apportioned income consists of the taxpayer's adjusted gross income for that year multiplied by the quotient of:
(1) the taxpayer's total receipts attributable to transacting business in Indiana, as determined under IC 6-5.5-4; divided by
(2) the taxpayer's total receipts from transacting business in all taxing jurisdictions, as determined under IC 6-5.5-4.
Official source: Indiana General Assembly. Reproduced from public-domain Indiana statutes; confirm against the official source for the current text. Not legal advice.