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IC 6-2.3
ARTICLE 2.3. UTILITY RECEIPTS TAX
IC 6-2.3-0.1
Chapter 0.1. Application
IC 6-2.3-0.1-1
Application of article
Sec. 1. The addition of this article by P.L.192-2002(ss) applies to
taxable years beginning after December 31, 2002.
As added by P.L.220-2011, SEC.133.
IC 6-2.3-0.1-2
Adoption of initial rules and forms; procedure; initial taxable
years; basic deduction; resource recovery system depreciation
Sec. 2. (a) The department shall adopt the initial rules and
prescribe the initial forms to implement this article, as added by
P.L.192-2002(ss), before December 1, 2002. The department of state
revenue may adopt the initial rules required under this section in the
same manner that emergency rules are adopted under IC 4-22-2-37.1.
A rule adopted under this section expires on the earlier of the
following:
(1) The date that the rule is superseded, amended, or repealed by
a permanent rule adopted under IC 4-22-2 or another rule
adopted under this section.
(2) July 1, 2004.
(b) The addition of this article by P.L.192-2002(ss) applies to
taxable years beginning after December 31, 2002, and to short
taxable years described in subsection (c).
(c) This subsection applies to a taxpayer that was doing business
in Indiana during a taxable year determined under the Internal
Revenue Code for federal income tax purposes that:
(1) begins before January 1, 2003; and
(2) ends after December 31, 2002.
The initial taxable year for a taxpayer under this article, as added by
P.L.192-2002(ss), is a short taxable year. Notwithstanding
IC 6-2.3-1-11, as added by P.L.192-2002(ss), the initial taxable year
of a taxpayer under this article, as added by P.L.192-2002(ss), begins
January 1, 2003. The initial taxable year of the taxpayer ends on the
day immediately preceding the day that the taxpayer's next taxable
year under the Internal Revenue Code begins.
(d) The one thousand dollar ($1,000) basic deduction (IC
6-2.3-5-1) and the resource recovery system depreciation deduction
(IC 6-2.3-5-3) for the tax imposed under this article, as added by
P.L.192-2002(ss), for the initial taxable year of the taxpayer is equal
to the deduction computed under this article for the taxpayer's full
taxable year under the Internal Revenue Code multiplied by a
fraction. The numerator of the fraction is the number of days
Indiana Code 2015
remaining in the taxpayer's taxable year after December 31, 2002,
and the denominator is the total number of days in the taxable year
under the Internal Revenue Code for the purposes of federal income
taxation.
As added by P.L.220-2011, SEC.133.
Indiana Code 2015
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