Indiana Code 6-5.5-2-4. Apportioned income of taxpayer filing combined return for unitary group
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Sec. 4. For a taxpayer filing a combined return for its unitary group, the group’s apportioned income for a taxable year consists of:
(2) the quotient of:
(1) the aggregate adjusted gross income, from whatever source derived, of the members of the unitary group; multiplied by
Terms Used In Indiana Code 6-5.5-2-4
- 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
(A) all the receipts of the taxpayer members of the unitary group that are attributable to transacting business in Indiana; divided by
(B) the receipts of all the members of the unitary group from transacting business in all taxing jurisdictions.
As added by P.L.347-1989(ss), SEC.1. Amended by P.L.68-1991, SEC.5; P.L.6-2000, SEC.3.