2021 Indiana Code
Title 6. Taxation
Article 1.1. Property Taxes
Chapter 8. Taxation of Public Utility Companies
6-1.1-8-12. Railcar Companies
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.
[Pre-1975 Property Tax Recodification Citation: 6-1-44-11(3).]
Formerly: Acts 1975, P.L.47, SEC.1. As amended by Acts 1977, P.L.2, SEC.13; P.L.78-1987, SEC.1; P.L.90-2002, SEC.63; P.L.182-2009(ss), SEC.98; P.L.38-2021, SEC.10.
