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

Terms Used In Indiana Code 6-5.5-2-3

  • gross income: includes income from interest, fees, penalties, a market discount or other type of discount, rental income, the gain on a sale of intangible or other property evidencing a loan or extension of credit, and dividends or other income received as a means of furthering the activities set out in this subdivision. See Indiana Code 6-5.5-1-17
  • Taxpayer: means a corporation that is transacting the business of a financial institution in Indiana, including any of the following:

    Indiana Code 6-5.5-1-17

  • Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5
(2) the taxpayer’s total receipts from transacting business in all taxing jurisdictions, as determined under IC 6-5.5-4.

As added by P.L.347-1989(ss), SEC.1. Amended by P.L.6-2000, SEC.2.

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