Indiana Code 34-31-8-10. Establishment of fair market value of total gross assets of transferor corporation
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Sec. 10. An innocent successor corporation may establish the fair market value of the total gross assets, including intangible assets, of a transferor corporation to determine limitations under section 8 of this chapter by any reasonable method, including:
(2) by reference to the purchase price attributable to or paid for assets in an arms length transaction; or
(1) by reference to the going concern value of the assets;
Terms Used In Indiana Code 34-31-8-10
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- corporation: means a corporation for profit, including a domestic corporation organized under Indiana law or a foreign corporation organized under the law of a jurisdiction other than Indiana. See Indiana Code 34-31-8-2
- Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
(3) in the absence of other readily available information from which the fair market value can be determined, by reference to the value of the assets recorded on a balance sheet.
As added by P.L.134-2009, SEC.6.