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Current as of January 02, 2024 | Updated by FindLaw Staff
Sec. 12. (a) The fixed property of a railcar company consists of real property. The remainder of the railcar company's property is indefinite-situs distributable property.
(b) The department of local government finance shall assess a railcar company's indefinite-situs distributable property on the basis of the average number of cars owned or used by the company within this state during the twelve (12) months of the calendar year preceding the year of assessment. The average number of cars within this state equals the product of:
(1) the sum of “M” plus “E”; multiplied by
(2) a fraction, the numerator of which is “N”, and the denominator of which is the number two (2).
“M” equals the mileage traveled by the railcar company's cars in this state divided by the mileage traveled by the company's cars both within and outside this state. “E” equals the earnings generated by the company's cars in this state divided by the earnings generated by the company's cars both within and outside this state. “N” equals the total number of cars owned or used by the company both within and outside this state.
Cite this article: FindLaw.com - Indiana Code Title 6. Taxation § 6-1.1-8-12 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-6-taxation/in-code-sect-6-1-1-8-12/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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