Sec. 8. For purposes of this chapter, IC 36-9-2-2(b), and IC 36-9-4-58(b), the purchase of equipment or other personal property is considered an operating expense if the equipment or other personal property has a useful life of less than three (3) years.
Ind. Code § 8-25-3-8
Purchase of equipment as an operating expense
As added by P.L.153-2014, SEC.17.
Official source: Indiana General Assembly. Reproduced from public-domain Indiana statutes; confirm against the official source for the current text. Not legal advice.