§ 6-1.1-8-12 — Railcar companies

Indiana § 6-1.1-8-12

• Jurisdiction: Indiana
• Art. 1.1: PROPERTY TAXES
• Ch. 8: Taxation of Public Utility Companies

Text

(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.