IC 6-5.5-4
Chapter 4. Rules for Attributing Receipts
IC 6-5.5-4-1 Application of chapter
Sec. 1. This chapter applies to all taxpayers. As added by P.L.347-1989(ss), SEC.1. Amended by P.L.6-2000,
SEC.4.
IC 6-5.5-4-2 Definitions
Sec. 2. For purposes of computing receipts or the receipts factor
under this article the following apply:
(1) "Receipts" means gross income (as defined in
IC 6-5.5-1-10), plus the gross income excluded under Section
103 of the Internal Revenue Code, less gross income derived
from sources outside the United States. However, upon the
disposition of assets such as securities and money market
transactions, when derived from transactions and activities in
the regular course of the taxpayer's trade or business, receipts
are limited to the gain (as defined in Section 1001 of the
Internal Revenue Code) that is recognized upon the disposition.
(2) "Money market instruments" means federal funds sold and
securities purchased under agreements to resell, commercial
paper, banker's acceptances, and purchased certificates of
deposit and similar instruments.
(3) "Securities" means United States Treasury securities,
obligations of United States government agencies and
corporations, obligations of state and political subdivisions,
corporate stock and other securities, participations in securities
backed by mortgages held by United States or state government
agencies, loan backed securities and similar investments. As added by P.L.347-1989(ss), SEC.1. Amended by P.L.21-1990,
SEC.29; P.L.68-1991, SEC.12.
IC 6-5.5-4-3 Lease or rental of real or tangible personal property
Sec. 3. Receipts from the lease or rental of real or tangible
personal property must be attributed to Indiana if the property is
located in Indiana. As added by P.L.347-1989(ss), SEC.1.
IC 6-5.5-4-4 Secured loans or installment sales contracts; interest income and
other receipts
Sec. 4. Interest income and other receipts from assets in the nature
of loans or installment sales contracts that are primarily secured by
or deal with real or tangible personal property must be attributed to
Indiana if the security or sale property is located in Indiana. As added by P.L.347-1989(ss), SEC.1. IC 6-5.5-4-5 Unsecured consumer loans; interest income and other receipts
Sec. 5. Interest income and other receipts from consumer loans
not secured by real or tangible personal property must be attributed
to Indiana if the loan is made to a resident of Indiana, whether at a
place of business, by a traveling loan officer, by mail, by telephone,
or by other electronic means. As added by P.L.347-1989(ss), SEC.1.
IC 6-5.5-4-6 Unsecured commercial loans or installment obligations; interest
income and other receipts to be applied in state
Sec. 6. Interest income and other receipts from commercial loans
and installment obligations not secured by real or tangible personal
property must be attributed to Indiana if the proceeds of the loan are
to be applied in Indiana. If it cannot be determined where the funds
are to be applied, the income and receipts are attributed to the state
in which the business applied for the loan. As used in this section,
"applied for" means initial inquiry (including customer assistance in
preparing the loan application) or submission of a completed loan
application, whichever occurs first. As added by P.L.347-1989(ss), SEC.1.
IC 6-5.5-4-7 Fee income and other receipts from letters of credit, acceptance of
drafts, and other guarantees of credit; apportionment
Sec. 7. Fee income and other receipts from letters of credit,
acceptance of drafts, and other devices for assuring or guaranteeing
loans or credit must be apportioned in the same manner as interest
income and other receipts from commercial loans are apportioned. As added by P.L.347-1989(ss), SEC.1.
IC 6-5.5-4-8 Credit cards; apportionment of service charges, interest income,
and fees
Sec. 8. Interest income, merchant discount, and other receipts
including service charges from financial institution credit card and
travel and entertainment credit card receivables and credit card
holders' fees must be attributed to the state to which the card charges
and fees are regularly billed. As added by P.L.347-1989(ss), SEC.1.
IC 6-5.5-4-9 Receipts from sale of assets; apportionment
Sec. 9. Receipts from the sale of an asset, tangible or intangible,
must be apportioned in the manner that the income from the asset
would be apportioned under this chapter. As added by P.L.347-1989(ss), SEC.1.
IC 6-5.5-4-10 Receipts from performance of fiduciary and other services;
apportionment
Sec. 10. Receipts from the performance of fiduciary and other
services must be attributed to the state in which the benefits of the
services are consumed. If the benefits are consumed in more than one
(1) state, the receipts from those benefits must be apportioned to
Indiana on a pro rata basis according to the portion of the benefits
consumed in Indiana. As added by P.L.347-1989(ss), SEC.1.
IC 6-5.5-4-11 Receipts from traveler's checks, money orders, or savings bonds
Sec. 11. Receipts from the issuance of traveler's checks, money
orders, or United States savings bonds must be attributed to the state
in which the traveler's checks, money orders, or bonds are purchased. As added by P.L.347-1989(ss), SEC.1.
IC 6-5.5-4-12 Receipts from investments of financial institution in state securities
Sec. 12. Receipts from investments of a financial institution in
securities of this state and its political subdivisions, agencies, and
instrumentalities must be attributed to Indiana. As added by P.L.347-1989(ss), SEC.1.
IC 6-5.5-4-13 Participation loans; apportionment of interest income and other
receipts
Sec. 13. Interest income and other receipts from a participating
financial institution's portion of participation loans must be attributed
under this chapter. A participation loan is a loan in which more than
one (1) lender is a creditor to a common borrower. As added by P.L.347-1989(ss), SEC.1.
IC 6-5.5-4-14
Repealed
(Repealed by P.L.68-1991, SEC.18.)
IC 6-5.5-4-15
Repealed
(Repealed by P.L.68-1991, SEC.18.)
IC 6-5.5-4
Chapter 4. Rules for Attributing Receipts
IC 6-5.5-4-1 Application of chapter
Sec. 1. This chapter applies to all taxpayers. As added by P.L.347-1989(ss), SEC.1. Amended by P.L.6-2000,
SEC.4.
IC 6-5.5-4-2 Definitions
Sec. 2. For purposes of computing receipts or the receipts factor
under this article the following apply:
(1) "Receipts" means gross income (as defined in
IC 6-5.5-1-10), plus the gross income excluded under Section
103 of the Internal Revenue Code, less gross income derived
from sources outside the United States. However, upon the
disposition of assets such as securities and money market
transactions, when derived from transactions and activities in
the regular course of the taxpayer's trade or business, receipts
are limited to the gain (as defined in Section 1001 of the
Internal Revenue Code) that is recognized upon the disposition.
(2) "Money market instruments" means federal funds sold and
securities purchased under agreements to resell, commercial
paper, banker's acceptances, and purchased certificates of
deposit and similar instruments.
(3) "Securities" means United States Treasury securities,
obligations of United States government agencies and
corporations, obligations of state and political subdivisions,
corporate stock and other securities, participations in securities
backed by mortgages held by United States or state government
agencies, loan backed securities and similar investments. As added by P.L.347-1989(ss), SEC.1. Amended by P.L.21-1990,
SEC.29; P.L.68-1991, SEC.12.
IC 6-5.5-4-3 Lease or rental of real or tangible personal property
Sec. 3. Receipts from the lease or rental of real or tangible
personal property must be attributed to Indiana if the property is
located in Indiana. As added by P.L.347-1989(ss), SEC.1.
IC 6-5.5-4-4 Secured loans or installment sales contracts; interest income and
other receipts
Sec. 4. Interest income and other receipts from assets in the nature
of loans or installment sales contracts that are primarily secured by
or deal with real or tangible personal property must be attributed to
Indiana if the security or sale property is located in Indiana. As added by P.L.347-1989(ss), SEC.1. IC 6-5.5-4-5 Unsecured consumer loans; interest income and other receipts
Sec. 5. Interest income and other receipts from consumer loans
not secured by real or tangible personal property must be attributed
to Indiana if the loan is made to a resident of Indiana, whether at a
place of business, by a traveling loan officer, by mail, by telephone,
or by other electronic means. As added by P.L.347-1989(ss), SEC.1.
IC 6-5.5-4-6 Unsecured commercial loans or installment obligations; interest
income and other receipts to be applied in state
Sec. 6. Interest income and other receipts from commercial loans
and installment obligations not secured by real or tangible personal
property must be attributed to Indiana if the proceeds of the loan are
to be applied in Indiana. If it cannot be determined where the funds
are to be applied, the income and receipts are attributed to the state
in which the business applied for the loan. As used in this section,
"applied for" means initial inquiry (including customer assistance in
preparing the loan application) or submission of a completed loan
application, whichever occurs first. As added by P.L.347-1989(ss), SEC.1.
IC 6-5.5-4-7 Fee income and other receipts from letters of credit, acceptance of
drafts, and other guarantees of credit; apportionment
Sec. 7. Fee income and other receipts from letters of credit,
acceptance of drafts, and other devices for assuring or guaranteeing
loans or credit must be apportioned in the same manner as interest
income and other receipts from commercial loans are apportioned. As added by P.L.347-1989(ss), SEC.1.
IC 6-5.5-4-8 Credit cards; apportionment of service charges, interest income,
and fees
Sec. 8. Interest income, merchant discount, and other receipts
including service charges from financial institution credit card and
travel and entertainment credit card receivables and credit card
holders' fees must be attributed to the state to which the card charges
and fees are regularly billed. As added by P.L.347-1989(ss), SEC.1.
IC 6-5.5-4-9 Receipts from sale of assets; apportionment
Sec. 9. Receipts from the sale of an asset, tangible or intangible,
must be apportioned in the manner that the income from the asset
would be apportioned under this chapter. As added by P.L.347-1989(ss), SEC.1.
IC 6-5.5-4-10 Receipts from performance of fiduciary and other services;
apportionment
Sec. 10. Receipts from the performance of fiduciary and other
services must be attributed to the state in which the benefits of the
services are consumed. If the benefits are consumed in more than one
(1) state, the receipts from those benefits must be apportioned to
Indiana on a pro rata basis according to the portion of the benefits
consumed in Indiana. As added by P.L.347-1989(ss), SEC.1.
IC 6-5.5-4-11 Receipts from traveler's checks, money orders, or savings bonds
Sec. 11. Receipts from the issuance of traveler's checks, money
orders, or United States savings bonds must be attributed to the state
in which the traveler's checks, money orders, or bonds are purchased. As added by P.L.347-1989(ss), SEC.1.
IC 6-5.5-4-12 Receipts from investments of financial institution in state securities
Sec. 12. Receipts from investments of a financial institution in
securities of this state and its political subdivisions, agencies, and
instrumentalities must be attributed to Indiana. As added by P.L.347-1989(ss), SEC.1.
IC 6-5.5-4-13 Participation loans; apportionment of interest income and other
receipts
Sec. 13. Interest income and other receipts from a participating
financial institution's portion of participation loans must be attributed
under this chapter. A participation loan is a loan in which more than
one (1) lender is a creditor to a common borrower. As added by P.L.347-1989(ss), SEC.1.
IC 6-5.5-4-14
Repealed
(Repealed by P.L.68-1991, SEC.18.)
IC 6-5.5-4-15
Repealed
(Repealed by P.L.68-1991, SEC.18.)
IC 6-5.5-4
Chapter 4. Rules for Attributing Receipts
IC 6-5.5-4-1 Application of chapter
Sec. 1. This chapter applies to all taxpayers. As added by P.L.347-1989(ss), SEC.1. Amended by P.L.6-2000,
SEC.4.
IC 6-5.5-4-2 Definitions
Sec. 2. For purposes of computing receipts or the receipts factor
under this article the following apply:
(1) "Receipts" means gross income (as defined in
IC 6-5.5-1-10), plus the gross income excluded under Section
103 of the Internal Revenue Code, less gross income derived
from sources outside the United States. However, upon the
disposition of assets such as securities and money market
transactions, when derived from transactions and activities in
the regular course of the taxpayer's trade or business, receipts
are limited to the gain (as defined in Section 1001 of the
Internal Revenue Code) that is recognized upon the disposition.
(2) "Money market instruments" means federal funds sold and
securities purchased under agreements to resell, commercial
paper, banker's acceptances, and purchased certificates of
deposit and similar instruments.
(3) "Securities" means United States Treasury securities,
obligations of United States government agencies and
corporations, obligations of state and political subdivisions,
corporate stock and other securities, participations in securities
backed by mortgages held by United States or state government
agencies, loan backed securities and similar investments. As added by P.L.347-1989(ss), SEC.1. Amended by P.L.21-1990,
SEC.29; P.L.68-1991, SEC.12.
IC 6-5.5-4-3 Lease or rental of real or tangible personal property
Sec. 3. Receipts from the lease or rental of real or tangible
personal property must be attributed to Indiana if the property is
located in Indiana. As added by P.L.347-1989(ss), SEC.1.
IC 6-5.5-4-4 Secured loans or installment sales contracts; interest income and
other receipts
Sec. 4. Interest income and other receipts from assets in the nature
of loans or installment sales contracts that are primarily secured by
or deal with real or tangible personal property must be attributed to
Indiana if the security or sale property is located in Indiana. As added by P.L.347-1989(ss), SEC.1. IC 6-5.5-4-5 Unsecured consumer loans; interest income and other receipts
Sec. 5. Interest income and other receipts from consumer loans
not secured by real or tangible personal property must be attributed
to Indiana if the loan is made to a resident of Indiana, whether at a
place of business, by a traveling loan officer, by mail, by telephone,
or by other electronic means. As added by P.L.347-1989(ss), SEC.1.
IC 6-5.5-4-6 Unsecured commercial loans or installment obligations; interest
income and other receipts to be applied in state
Sec. 6. Interest income and other receipts from commercial loans
and installment obligations not secured by real or tangible personal
property must be attributed to Indiana if the proceeds of the loan are
to be applied in Indiana. If it cannot be determined where the funds
are to be applied, the income and receipts are attributed to the state
in which the business applied for the loan. As used in this section,
"applied for" means initial inquiry (including customer assistance in
preparing the loan application) or submission of a completed loan
application, whichever occurs first. As added by P.L.347-1989(ss), SEC.1.
IC 6-5.5-4-7 Fee income and other receipts from letters of credit, acceptance of
drafts, and other guarantees of credit; apportionment
Sec. 7. Fee income and other receipts from letters of credit,
acceptance of drafts, and other devices for assuring or guaranteeing
loans or credit must be apportioned in the same manner as interest
income and other receipts from commercial loans are apportioned. As added by P.L.347-1989(ss), SEC.1.
IC 6-5.5-4-8 Credit cards; apportionment of service charges, interest income,
and fees
Sec. 8. Interest income, merchant discount, and other receipts
including service charges from financial institution credit card and
travel and entertainment credit card receivables and credit card
holders' fees must be attributed to the state to which the card charges
and fees are regularly billed. As added by P.L.347-1989(ss), SEC.1.
IC 6-5.5-4-9 Receipts from sale of assets; apportionment
Sec. 9. Receipts from the sale of an asset, tangible or intangible,
must be apportioned in the manner that the income from the asset
would be apportioned under this chapter. As added by P.L.347-1989(ss), SEC.1.
IC 6-5.5-4-10 Receipts from performance of fiduciary and other services;
apportionment
Sec. 10. Receipts from the performance of fiduciary and other
services must be attributed to the state in which the benefits of the
services are consumed. If the benefits are consumed in more than one
(1) state, the receipts from those benefits must be apportioned to
Indiana on a pro rata basis according to the portion of the benefits
consumed in Indiana. As added by P.L.347-1989(ss), SEC.1.
IC 6-5.5-4-11 Receipts from traveler's checks, money orders, or savings bonds
Sec. 11. Receipts from the issuance of traveler's checks, money
orders, or United States savings bonds must be attributed to the state
in which the traveler's checks, money orders, or bonds are purchased. As added by P.L.347-1989(ss), SEC.1.
IC 6-5.5-4-12 Receipts from investments of financial institution in state securities
Sec. 12. Receipts from investments of a financial institution in
securities of this state and its political subdivisions, agencies, and
instrumentalities must be attributed to Indiana. As added by P.L.347-1989(ss), SEC.1.
IC 6-5.5-4-13 Participation loans; apportionment of interest income and other
receipts
Sec. 13. Interest income and other receipts from a participating
financial institution's portion of participation loans must be attributed
under this chapter. A participation loan is a loan in which more than
one (1) lender is a creditor to a common borrower. As added by P.L.347-1989(ss), SEC.1.
IC 6-5.5-4-14
Repealed
(Repealed by P.L.68-1991, SEC.18.)
IC 6-5.5-4-15
Repealed
(Repealed by P.L.68-1991, SEC.18.)
