Learn About the Law
Get help with your legal needs
FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.
Current as of January 02, 2024 | Updated by FindLaw Staff
Sec. 1. As used in this chapter, “applicable percentage” means the percentage determined as follows:
(1) If a plant was placed in service at least fifteen (15) years ago but less than thirty (30) years ago, the applicable percentage is fifteen percent (15%).
(2) If a plant was placed in service at least thirty (30) years ago but less than forty (40) years ago, the applicable percentage is twenty percent (20%).
(3) If a plant was placed in service at least forty (40) years ago, the applicable percentage is twenty-five percent (25%).
The time that has expired since a plant was placed in service shall be determined as of the date that an application is filed with the corporation. However, in the case of an industrial recovery site described in section 5(2) of this chapter, the time that has expired since a plant was placed in service shall be determined as of the date on which the demolition of the vacant plant was completed.
Cite this article: FindLaw.com - Indiana Code Title 6. Taxation § 6-3.1-11-1 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-6-taxation/in-code-sect-6-3-1-11-1/
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.
A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw's Learn About the Law.
Get help with your legal needs
FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.
Search our directory by legal issue
Enter information in one or both fields (Required)