reglab/statecodes huggingface dataset:
Indiana Administrative Code › Title 45 - DEPARTMENT OF STATE REVENUE › Article 17 - TAXATION OF FINANCIAL INSTITUTIONS › Rule 2 - Taxpayer › Section 2-9 - Regularly soliciting business; presumption

Current through July 10, 2024
Authority: IC 6-5.5-9-1
Affected: IC 6-5.5-3-4
Sec. 9.
A taxpayer is presumed, subject to rebuttal, to regularly
				  solicit business within Indiana during a taxable year if at any time during the
				  taxable year, the sum of the taxpayer's assets, including the assets arising
				  from loan transactions, and the absolute value of the taxpayer's deposits
				  attributable to Indiana, equal at least five million dollars ($5,000,000), or
				  if the taxpayer does any of the following during the taxable year:
(1) Sells products or services of any kind or
				nature to twenty (20) or more Indiana customers who receive the product or
				service in Indiana.
(2) Solicits
				business from twenty (20) or more potential Indiana customers.
(3) Performs services outside Indiana that
				are consumed within Indiana by twenty (20) or more customers.
(4) Engages in transactions with twenty (20)
				or more Indiana customers that involve intangible property, including loans,
				but not property described in section 7 of this rule and result in receipts
				flowing to the corporation from such customers within Indiana.
However, if a taxpayer is presumed to be regularly soliciting
				  business in Indiana, but its total activities in Indiana fall within the exempt
				  activities identified in section 7 of this rule, the taxpayer is not subject to
				  the FIT.
Indiana Administrative Code › Title 45 - DEPARTMENT OF STATE REVENUE › Article 17 - TAXATION OF FINANCIAL INSTITUTIONS › Rule 3 - Computation of Tax › Section 3-1 - Adjusted gross income

Current through July 10, 2024
Authority: IC 6-5.5-9-1
Affected: IC 6-5.5-1-2
Sec. 1.
For corporations other than credit unions or investment
				  companies, "adjusted gross income" means taxable income as defined in Section
				  63 of the Internal Revenue Code, adjusted as follows:
(1) Add an amount equal to a deduction
				allowed or allowable under Section 166 (Bad Debt), Section 585 (Reserve for Bad
				Debt), or Section 593 (Reserve for Bad Debt) of the Internal Revenue
				Code.
(2) Add an amount equal to a
				deduction allowed or allowable under Section 170 (Charitable Contributions) of
				the Internal Revenue Code.
(3) Add
				an amount equal to a deduction or deductions allowed or allowable under Section
				63 of the Internal Revenue Code for taxes based on or measured by income and
				levied at the state level by a state of the United States or for taxes on
				property levied by a state or a subdivision of a state of the United States.
				(This provision requires the add back of taxes on property (real and tangible
				personal) levied at the local level, and taxes on property levied at the state
				level, e.g., Indiana's motor vehicle excise tax).
(4) Add the amount of interest excluded under
				Section 103 (Interest on State and Local Bonds) of the Internal Revenue Code or
				under any other federal law, minus the associated expenses disallowed in the
				computation of taxable income under Section 265 (Expenses and Interest Relating
				to Tax-Exempt Income) of the Internal Revenue Code.
(5) Add an amount equal to the deduction
				allowed under Section 172 (Net Operating Loss Deduction) or Section 1212
				(Capital Loss Carrybacks and Carryovers) of the Internal Revenue Code for net
				operating losses or net capital losses.
(6) Subtract income that the United States
				Constitution or any statute of the United States prohibits from being used to
				measure the FIT, imposed by IC 6-5.5. Although United States obligations are
				not subject to income taxation as provided under federal law, United States
				obligations are not preempted by federal law from franchise taxes. See 15
				U.S.C. 3124(a). Therefore, United States obligations are not subtracted from
				federal taxable income for purposes of the FIT.
(7) Subtract income that is derived from
				sources outside the United States, as defined by the Internal Revenue
				Code.
(8) Subtract an amount equal
				to a debt or portion of a debt that becomes worthless during the taxable year
				within the meaning of Section 166(a) (Wholly or Partially Worthless Debts) of
				the Internal Revenue Code.
(9)
				Subtract an amount equal to any bad debt reserves that are included in federal
				taxable income because of accounting method changes required by Section
				585(c)(3)(A) of the Internal Revenue Code.
Indiana Administrative Code › Title 45 - DEPARTMENT OF STATE REVENUE › Article 17 - TAXATION OF FINANCIAL INSTITUTIONS › Rule 3 - Computation of Tax › Section 3-2 - Methods of reporting

Current through July 10, 2024
Authority: IC 6-5.5-9-1
Affected: IC 6-5.5-5-1; IC 6-5.5-6-1
Sec. 2.
(a)
				Consolidated reporting is not permitted for purposes of the FIT. Separate or
				combined reporting are the only methods of reporting which are
				allowed.
(b) A taxpayer shall file
				a separate return when the taxpayer is not a member of a unitary group. If the
				taxpayer is a member of a unitary group as defined in section 5 of this rule,
				combined reporting is mandatory, unless IC 6-5.5-5-1(b) is
				applicable.
Indiana Administrative Code › Title 45 - DEPARTMENT OF STATE REVENUE › Article 17 - TAXATION OF FINANCIAL INSTITUTIONS › Rule 3 - Computation of Tax › Section 3-3 - Calculating the FIT liability for resident taxpayers filing a separate return

Current through July 10, 2024
Authority: IC 6-5.5-9-1
Affected: IC 6-5.5-2-1
Sec. 3.
(a) A
				resident taxpayer is a corporation that is transacting business within Indiana
				under 45 IAC 17-2-6, and is commercially domiciled in this state.
(b) Generally, the FIT liability before
				allowable credits for a resident taxpayer that is not a member of a unitary
				group is determined as follows:
STEP ONE: Calculate adjusted gross income as defined under
				  section 1 of this rule. NOTE: Adjusted gross income includes the taxpayer's
				  adjusted gross income from whatever source derived; therefore, adjusted gross
				  income includes income from all taxing jurisdictions and without regard to the
				  type of activity which produced such income. The adjusted gross income is not
				  apportioned.
STEP TWO: Subtract from STEP ONE deductible net operating
				  losses incurred in taxable years beginning after December 31, 1989. NOTE: A net
				  operating loss for any taxable year is a net operating loss carryover to each
				  of the fifteen (15) taxable years that follow the taxable year in which the
				  loss occurred or until exhausted, whichever occurs first.
STEP THREE: Subtract from the result of STEP TWO an amount
				  equal to net capital losses not to exceed the taxpayer's net capital gains that
				  were incurred for taxable years beginning after December 31, 1989, to the
				  extent that such net capital losses were added back in determining adjusted
				  gross income. NOTE: Capital losses unused during the taxable year may be
				  carried forward to each of the five (5) succeeding taxable years or until
				  exhausted, whichever occurs first. However, net capital losses carried forward
				  can only be deducted to the extent of net capital gains.
STEP FOUR: Multiply the result of STEP THREE by the FIT
				  rate.
Indiana Administrative Code › Title 45 - DEPARTMENT OF STATE REVENUE › Article 17 - TAXATION OF FINANCIAL INSTITUTIONS › Rule 3 - Computation of Tax › Section 3-4 - Calculating the FIT liability for the nonresident taxpayer filing a separate return

Current through July 10, 2024
Authority: IC 6-5.5-9-1
Affected: IC 6-5.5-2-1; IC 6-5.5-2-3
Sec. 4.
(a) A
				nonresident taxpayer is a corporation which is transacting business in Indiana
				under 45 IAC 17-2-6 and has its commercial domicile in a taxing jurisdiction
				outside Indiana.
(b) Generally, the
				FIT liability before allowable credits for a nonresident taxpayer which is not
				a member of a unitary group is determined as follows:
STEP ONE: Calculate adjusted gross income as defined under
				  section 1 of this rule. NOTE: Adjusted gross income includes the taxpayer's
				  adjusted gross income from whatever source derived. The adjusted gross income
				  is then apportioned. The adjusted gross income for the taxable year is
				  multiplied by the quotient of:
(A) the
				taxpayer's total receipts attributed to transacting business in Indiana as
				determined under section 10 of this rule; divided by
(B) the taxpayer's total receipts from
				transacting business in all taxing jurisdictions.
STEP TWO: Subtract from STEP ONE deductible Indiana net
				  operating losses incurred in taxable years beginning after December 31, 1989.
				  When calculating the Indiana portion of the net operating losses, use the
				  apportionment percentage used for the taxable year of the loss. NOTE: A net
				  operating loss for any taxable year is a net operating loss carryover to each
				  of the fifteen (15) taxable years that follow the taxable year in which the
				  loss occurred or until exhausted, whichever occurs first.
STEP THREE: Subtract from the result in STEP TWO an amount
				  equal to any capital loss carry forward for taxable years beginning after
				  December 31, 1989, multiplied by the apportionment percentage used for the
				  applicable loss year plus any capital loss incurred during the taxable year
				  multiplied by the current year's apportionment percentage. The amount of losses
				  available to be deducted are limited to the extent of the current year's
				  apportioned capital gains. NOTE: Capital losses unused during the taxable year
				  may be carried forward to each of the five (5) succeeding taxable years or
				  until exhausted, whichever occurs first.
STEP FOUR: Multiply the result of STEP THREE by the FIT
				  rate.
Indiana Administrative Code › Title 45 - DEPARTMENT OF STATE REVENUE › Article 17 - TAXATION OF FINANCIAL INSTITUTIONS › Rule 3 - Computation of Tax › Section 3-5 - Unitary groups

Current through July 10, 2024
Authority: IC 6-5.5-9-1
Affected: IC 6-5.5-1-18; IC 6-5.5-5-1
Sec. 5.
(a) A
				designated taxpayer who is a member of a unitary group shall file a combined
				return covering all the operations of the unitary business and including all
				taxpayer members of the unitary group.
(b) A corporation must be a taxpayer as
				defined under 45 IAC 17-2 in order to be a member of a unitary group for
				purposes of the FIT.
(c) A "unitary
				business" means business activities or operations that are of mutual benefit,
				dependent upon, or contributory to one another, individually, or as a group, in
				transacting the business of a financial institution. Unity of ownership exists
				when a corporation is a member of a group of two (2) or more entities and more
				than fifty percent (50%) of the voting stock of each member of the group is
				directly or indirectly owned by:
(1) a common
				owner or common owners, either corporate or noncorporate; or
(2) one (1) or more of the member
				corporations of the group. Example 1, Corporation A owns eighty percent (80%)
				of Subsidiary B. Subsidiary B owns sixty percent (60%) of Subsidiary C.
				Corporation A directly owns eighty percent (80%) of Subsidiary B and indirectly
				owns forty-eight percent (48%) of Subsidiary C. There is unity of ownership
				between Corporation A and Subsidiary B because Corporation A directly owns more
				than fifty percent (50%) of Subsidiary B. There is unity of ownership between
				Subsidiary B and Subsidiary C because Subsidiary B directly owns more than
				fifty percent (50%) of Subsidiary C. Although Corporation A indirectly owns
				only forty-eight percent (48%) of Subsidiary C, there is unity of ownership
				between Corporation A and Subsidiary B and Subsidiary C because Subsidiary B is
				a member corporation of the group and directly owns more than fifty percent
				(50%) of Subsidiary C. Example 2, Corporation A owns one hundred percent (100%)
				of Corporations B and C. Corporations B and C each owns thirty percent (30%) of
				Corporation D. Although no single corporation owns more than fifty percent
				(50%) of Corporation D, the unitary group owns sixty percent (60%) of
				Corporation D. Therefore Corporation D is a member of the unitary group.
Unity is presumed whenever there is unity of ownership,
				  operation, and use evidenced by centralized management or executive force,
				  centralized purchasing, advertising, accounting, or other controlled
				  interaction among entities that are members of a unitary group.
Indiana Administrative Code › Title 45 - DEPARTMENT OF STATE REVENUE › Article 17 - TAXATION OF FINANCIAL INSTITUTIONS › Rule 3 - Computation of Tax › Section 3-6 - Calculating the FIT liability for taxpayers filing a combined return

Current through July 10, 2024
Authority: IC 6-5.5-9-1
Affected: IC 6-5.5-2-4; IC 6-5.5-5-2
Sec. 6.
Generally, the FIT liability before allowable credits for a
				  taxpayer filing a combined return for a unitary group is determined as follows:
STEP ONE: Eliminate all income and deductions from
				  transactions between entities that are included in the unitary group.
STEP TWO: Calculate the unitary group's adjusted gross income
				  which consists of:
(A) all of the
				adjusted gross income of the resident taxpayer members of the unitary group;
				plus
(B) the adjusted gross income
				of all nonresident taxpayer members of the unitary group for the taxable year
				multiplied by the quotient of:
(i) the
				receipts of the nonresident taxpayer members of the unitary group attributable
				to transacting business in Indiana, as determined under section 10 of this
				rule; divided by
(ii) the receipts
				of the nonresident taxpayer members of the unitary group from transacting
				business in all taxing jurisdictions, as determined under section 10 of this
				rule.
The above calculation does not permit each member to
				  separately calculate its own Indiana adjusted gross income. STEP THREE:
				  Subtract from the result in STEP TWO an amount equal to the unitary group's net
				  operating losses attributed to Indiana that were incurred in taxable years
				  beginning after December 31, 1989. The amount of the net operating loss
				  deduction shall be computed similar to STEP TWO above for the tax year in which
				  the net operating loss occurred. The unitary group's net operating loss
				  deduction consists of:
Indiana Administrative Code › Title 45 - DEPARTMENT OF STATE REVENUE › Article 17 - TAXATION OF FINANCIAL INSTITUTIONS › Rule 3 - Computation of Tax › Section 3-7 - Credits for taxes paid to other states

Current through July 10, 2024
Authority: IC 6-5.5-9-1
Affected: IC 6-5.5
Sec. 7.
(a) A
				resident taxpayer or a resident member of a unitary group is entitled to a
				credit against the FIT.
(b) To
				claim a credit for creditable taxes paid to other taxing jurisdictions, the
				resident taxpayer must provide the department with a schedule which lists the
				separate taxing jurisdictions and the respective amounts paid.
(c) As used in this section, "creditable tax"
				means a tax imposed by a taxing jurisdiction and based on any of the following:
(1) Net income.
(2) Franchise.
(3) Deposits.
(4) Investment capital.
(5) Shares.
(6) Net worth or capital.
(7) A combination of these tax
				bases.
(8) Any other tax that is
				imposed instead of an income tax.
Indiana Administrative Code › Title 45 - DEPARTMENT OF STATE REVENUE › Article 17 - TAXATION OF FINANCIAL INSTITUTIONS › Rule 3 - Computation of Tax › Section 3-8 - Credits for certain nonresident taxpayers

Current through July 10, 2024
Authority: IC 6-5.5-9-1
Affected: IC 6-5.5-2; IC 6-5.5-4
Sec. 8.
(a) A
				nonresident taxpayer filing separately or a combined return is entitled to a
				credit against its FIT liability in the amount of direct net income tax, a
				franchise tax, or other tax measured by net income that is due for a taxable
				year to the nonresident taxpayer's domiciliary state if:
(1) the receipt of interest or other income
				from a loan or loan transaction is attributed both to the taxpayer's
				domiciliary state under that state's laws and also to Indiana under IC 6-5.5-4;
				and
(2) the principal amount of the
				loan is at least two million dollars ($2,000,000).
Indiana Administrative Code › Title 45 - DEPARTMENT OF STATE REVENUE › Article 17 - TAXATION OF FINANCIAL INSTITUTIONS › Rule 3 - Computation of Tax › Section 3-9 - Other credits that can be applied against the FIT

Current through July 10, 2024
Authority: IC 6-5.5-9-1
Affected: IC 6-3-3-10; IC 6-3.1; IC 6-5.5
Sec. 9.
The following credits are available to be taken for purposes
				  of reducing a corporation's FIT liability:
(1) Enterprise zone employment expense credit
				(IC 6-3-3-10 ).
(2) Teacher's
				summer employment credit (IC 6-3.1-2 ).
(3) Donation of high technology equipment for
				schools credit (IC 6-3.1-3 ).
(4)
				Investment credit (IC 6-3.1-5 ).
(5) Enterprise zone loan interest credit (IC
				6-3.1-7 ).
(6) Neighborhood
				assistance credit (IC 6-3.1-9 ).
(7) Industrial recovery tax credit (IC
				6-3.1-11 ).
(8) Drug and alcohol
				abuse prevention credit (IC 6-3.1-12 ).
Indiana Administrative Code › Title 45 - DEPARTMENT OF STATE REVENUE › Article 17 - TAXATION OF FINANCIAL INSTITUTIONS › Rule 3 - Computation of Tax › Section 3-10 - Attributing receipts for nonresident taxpayers and nonresident members of a unitary group

Current through July 10, 2024
Authority: IC 6-5.5-9-1
Affected: IC 6-5.5-1-10; IC 6-5.5-4
Sec. 10.
(a) As used
				in this article, the following definitions apply:
(1) "Receipts" includes all gross income as
				defined in Section 61 of the Internal Revenue Code. 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, participation in securities backed by mortgages held by United
				States or state government agencies, loans backed securities and similar
				investments.
Indiana Administrative Code › Title 45 - DEPARTMENT OF STATE REVENUE › Article 17 - TAXATION OF FINANCIAL INSTITUTIONS › Rule 4 - Other Taxpayers › Section 4-1 - Resident state chartered credit unions

Current through July 10, 2024
Authority: IC 6-5.5-9-1
Affected: IC 6-5.5; IC 28-7-1-24
Sec. 1.
(a) State
				chartered credit unions incorporated in Indiana are subject to the FIT. (See 45
				IAC 7-2.) For purposes of computing the adjusted gross income of the credit
				union, adjusted gross income equals the total transfers to undivided earnings,
				minus dividends for that taxable year after statutory reserves are set aside
				under IC 28-7-1-24. In other words, adjusted gross income can be defined as net
				transfers to undivided earnings. No other deductions are permitted.
(b) A resident taxpayer's income is not
				apportioned to other states. Therefore, the taxpayer's adjusted gross income
				equals all of the taxpayer's adjusted gross income from whatever source
				derived.
(c) For purposes of
				computing the FIT liability, the adjusted gross income of the credit union is
				multiplied by the FIT rate.
(d) A
				copy of the Year End Call Report submitted to the National Credit Union
				Association must be included when filing the annual tax return.
Indiana Administrative Code › Title 45 - DEPARTMENT OF STATE REVENUE › Article 17 - TAXATION OF FINANCIAL INSTITUTIONS › Rule 4 - Other Taxpayers › Section 4-2 - Nonresident state chartered credit unions

Current through July 10, 2024
Authority: IC 6-5.5-9-1
Affected: IC 6-5.5; IC 28-7-1-24
Sec. 2.
(a) Credit
				unions chartered in a state other than Indiana may be subject to the FIT under
				45 IAC 17-2. For purposes of computing the adjusted gross income of the
				nonresident credit union, adjusted gross income is the total transfers to
				undivided earnings, minus dividends for the taxable year after statutory
				reserves are set aside under IC 28-7-1-24. In other words, adjusted gross
				income can be defined as net transfers to undivided earnings. No other
				deductions are permitted.
(b) For
				purposes of determining the statutory reserves under IC 28-7-1-24(e), the
				Indiana department of financial institutions may revise the statutory reserve
				requirement. The Indiana department of financial institutions has promulgated
				rules which allow the statutory reserves for Indiana purposes to coincide with
				the Federal Credit Union Act ( 12 U.S.C. 1762 ). Therefore, a nonresident state
				chartered credit union may determine its statutory reserves for purposes of the
				FIT by applying the reserve requirements of the Federal Credit Union
				Act.
(c) For purposes of computing
				the FIT liability, the adjusted gross income must be apportioned by dividing
				the total receipts attributable to transacting business in Indiana by the total
				receipts from transacting business in all taxing jurisdictions. This quotient,
				expressed as a percentage, is multiplied by the total adjusted gross income to
				arrive at the apportioned adjusted gross income which is multiplied by the FIT
				rate.
Indiana Administrative Code › Title 45 - DEPARTMENT OF STATE REVENUE › Article 17 - TAXATION OF FINANCIAL INSTITUTIONS › Rule 4 - Other Taxpayers › Section 4-3 - Federally chartered credit unions; exemption

Current through July 10, 2024
Authority: IC 6-5.5-9-1
Affected: IC 6-5.5
Sec. 3.
Federal law prohibits the state taxation of federally
				  chartered credit unions under the Federal Credit Union Act ( 12 U.S.C. 1768
				  ).
Indiana Administrative Code › Title 45 - DEPARTMENT OF STATE REVENUE › Article 17 - TAXATION OF FINANCIAL INSTITUTIONS › Rule 4 - Other Taxpayers › Section 4-4 - Partnerships or trusts

Current through July 10, 2024
Authority: IC 6-5.5-9-1
Affected: IC 6-5.5-2-8
Sec. 4.
(a) Neither
				partnerships nor trust entities are subject to the FIT. However, partnerships
				with a corporate partner, and trusts which have a corporate grantor and
				beneficiary which are conducting the business of a financial institution, are
				required to file annual information returns. The information returns must be
				filed on a schedule provided by the department. The partnership or trust must
				calculate the tax liability as if the partnership or trust were a taxpayer for
				purposes of the FIT.
(b) If a
				partnership or trust that is commercially domiciled in Indiana is transacting
				the business of a financial institution in Indiana, and the partners or
				grantors and beneficiaries are nonresident corporations, the partnership or
				trust is responsible to withhold and remit the nonresident corporation's tax
				liability on its apportioned income if the nonresident corporation is otherwise
				not a taxpayer for purposes of the FIT. The apportioned income attributable to
				the corporate partner is the same percentage as its distributive share. The
				corporate partner which is a resident or nonresident and otherwise subject to
				the FIT is responsible for the FIT in accordance with the corporate partner's
				percentage share of the partnership or trust's adjusted gross income or
				apportioned income.
(c) If a
				resident corporate partner is otherwise not subject to the FIT, the corporate
				partner must pay the FIT liability attributable to its partnership income. The
				income attributed to the corporate partner's share which has been taxed under
				IC 6-5.5 would not be included in the income calculation for purposes of any
				other taxes under 45 IAC 17-2-5. For example, a nonresident partnership is
				conducting the business of a financial institution both within and without
				Indiana. Assume Corporation A owns sixty percent (60%) of the partnership and
				Corporation B owns forty percent (40%) of the partnership. Further assume that
				eighty percent (80%) of the partnership's receipts are attributable to Indiana
				and twenty percent (20%) of the partnership's receipts are attributable to
				other states. Corporation A's distributive share of income is forty-eight
				percent (48%) (sixty percent (60%) multiplied by eighty percent (80%)) of the
				total adjusted gross income. Corporation B's distributive share is thirty-two
				percent (32%) (forty percent (40%) multiplied by eighty percent (80%)) of the
				total adjusted gross income for purposes of attributing income to the corporate
				partners.
Indiana Administrative Code › Title 45 - DEPARTMENT OF STATE REVENUE › Article 17 - TAXATION OF FINANCIAL INSTITUTIONS › Rule 4 - Other Taxpayers › Section 4-5 - Investment companies

Current through July 10, 2024
Authority: IC 6-5.5-9-1
Affected: IC 6-5.5-1-2
Sec. 5.
(a) For
				purposes of the FIT, an "investment company" means a person, copartnership,
				association, or corporation, whether domestic or foreign, that:
(1) is registered under the Investment
				Company Act of 1940 ( 15 U.S.C. 80a-1 et seq.); and
(2) solicits or receives a payment and issues
				in exchange for such payment an investment contract as evidenced by:
(A) a so-called bond;
(B) a share;
(C) a coupon;
(D) a certificate of membership;
(E) an agreement;
(F) a pretended agreement; or
(G) another evidence of obligation;
entitling the holder to anything of value at some future
				  date, if the gross payments to the holder equal at least fifty percent (50%) of
				  the sum of the company's gross payments on all investment contracts plus the
				  company's gross income from all other sources, except dividends from
				  subsidiaries, for the taxable year. The term "gross payments" means the amount
				  received during the taxable year on outstanding investment contracts, plus
				  interest and dividends earned on those contracts. The interest and dividends
				  earned on investment contracts are determined by prorating the total dividends
				  and interest for the taxable year in question in the same proportion that
				  certificate reserves, as defined by the Investment Company Act of 1940, are to
				  total assets.
Indiana Administrative Code › Title 45 - DEPARTMENT OF STATE REVENUE › Article 17 - TAXATION OF FINANCIAL INSTITUTIONS › Rule 5 - Reporting › Section 5-1 - Required reporting

Current through July 10, 2024
Authority: IC 6-5.5-9-1
Affected: IC 6-5.5; IC 6-8.1-6-2
Sec. 1.
(a) Annual
				returns are required to be filed with the department by every taxpayer subject
				to the FIT, including any taxpayer which has a loss for that taxable year. A
				unitary group is required to file only one (1) return covering all members of
				the unitary group. A schedule of all members of the unitary group must be
				attached to the annual return. A copy of the taxpayer's federal income tax
				return which has been filed with the Internal Revenue Service for the same
				taxable year must accompany the Indiana annual return.
(b) The annual return must be filed with the
				department on or before the fifteenth day of the fourth month following the
				close of the taxable year. The department will recognize an extension of time
				which has been granted by the Internal Revenue Service, provided that such
				extension of time can be verified through the Internal Revenue Service, and a
				copy of the federal application for extension of time is attached to the
				Indiana annual return.
(c) If an
				additional extension period is needed for purposes of filing Indiana's annual
				return, and such time exceeds the federal extension period granted, the
				taxpayer is required to file a petition for a separate Indiana extension of
				time in accordance with IC 6-8.1-6-2.
(d) Each taxpayer shall report and submit a
				quarterly estimated tax payment to the department equal to twenty-five percent
				(25%) of the taxpayer's total estimated tax liability for the taxable year. The
				quarterly estimated payment is due on or before the last day of the month
				following the close of each quarter of the taxable year.
(e) Failure to make quarterly estimated
				payments at least equal to:
(1) twenty percent
				(20%) of the final tax liability for the taxable year; or
(2) twenty-five percent (25%) of the final
				tax liability for the taxpayer's previous taxable year;
will result in a ten percent (10%) penalty imposed upon the
				  difference between the actual amount paid and the amount required to be paid
				  for each quarter.
Indiana Administrative Code › Title 45 - DEPARTMENT OF STATE REVENUE › Article 18 - CHARITY GAMING › Rule 1 - Definitions › Section 1-1 - Applicability (Transferred)

Current through July 10, 2024
Transferred from the Department of State Revenue ( 45 IAC
					 18-1-1 ) to the Indiana Gaming Commission ( 68 IAC 20-1-1 ) by P.L. 91-2006,
					 SECTION 16, effective July 1, 2006.
Indiana Administrative Code › Title 45 - DEPARTMENT OF STATE REVENUE › Article 18 - CHARITY GAMING › Rule 1 - Definitions › Section 1-2 - "Calendar month" defined (Repealed)

Current through July 10, 2024
On October 4, 2004, the Marion County Superior Court No. 10
					 issued an Order in Cause No. 49D10-0306-PL-01148, enjoining the Department of
					 State Revenue from enforcing any part of the rules adopted in LSA Document
					 #02-40F , printed at 26 IR 2300. See 16 IR 1368 for text of this
					 section.
Indiana Administrative Code › Title 45 - DEPARTMENT OF STATE REVENUE › Article 18 - CHARITY GAMING › Rule 1 - Definitions › Section 1-3 - "Calendar week" defined (Repealed)

Current through July 10, 2024
On October 4, 2004, the Marion County Superior Court No. 10
					 issued an Order in Cause No. 49D10-0306-PL-01148, enjoining the Department of
					 State Revenue from enforcing any part of the rules adopted in LSA Document
					 #02-40F , printed at 26 IR 2300. See 16 IR 1369 for text of this
					 section.
Indiana Administrative Code › Title 45 - DEPARTMENT OF STATE REVENUE › Article 18 - CHARITY GAMING › Rule 1 - Definitions › Section 1-4 - "Calendar year" defined (Repealed)

Current through July 10, 2024
On October 4, 2004, the Marion County Superior Court No. 10
					 issued an Order in Cause No. 49D10-0306-PL-01148, enjoining the Department of
					 State Revenue from enforcing any part of the rules adopted in LSA Document
					 #02-40F , printed at 26 IR 2300. See 16 IR 1369 for text of this
					 section.
Indiana Administrative Code › Title 45 - DEPARTMENT OF STATE REVENUE › Article 18 - CHARITY GAMING › Rule 1 - Definitions › Section 1-5 - "Day" defined (Repealed)

Current through July 10, 2024
On October 4, 2004, the Marion County Superior Court No. 10
					 issued an Order in Cause No. 49D10-0306-PL-01148, enjoining the Department of
					 State Revenue from enforcing any part of the rules adopted in LSA Document
					 #02-40F , printed at 26 IR 2300. See 16 IR 1369 for text of this
					 section.
Indiana Administrative Code › Title 45 - DEPARTMENT OF STATE REVENUE › Article 18 - CHARITY GAMING › Rule 1 - Definitions › Section 1-6 - "Department" defined (Repealed)

Current through July 10, 2024
On October 4, 2004, the Marion County Superior Court No. 10
					 issued an Order in Cause No. 49D10-0306-PL-01148, enjoining the Department of
					 State Revenue from enforcing any part of the rules adopted in LSA Document
					 #02-40F , printed at 26 IR 2300. See 16 IR 1369 for text of this
					 section.
Indiana Administrative Code › Title 45 - DEPARTMENT OF STATE REVENUE › Article 18 - CHARITY GAMING › Rule 1 - Definitions › Section 1-7 - "Qualified organization" defined (Repealed)

Current through July 10, 2024
On October 4, 2004, the Marion County Superior Court No. 10
					 issued an Order in Cause No. 49D10-0306-PL-01148, enjoining the Department of
					 State Revenue from enforcing any part of the rules adopted in LSA Document
					 #02-40F , printed at 26 IR 2300. See 16 IR 1369 for text of this
					 section.
Indiana Administrative Code › Title 45 - DEPARTMENT OF STATE REVENUE › Article 18 - CHARITY GAMING › Rule 1 - Definitions › Section 1-8 - "Value" defined (Repealed)

Current through July 10, 2024
On October 4, 2004, the Marion County Superior Court No. 10
					 issued an Order in Cause No. 49D10-0306-PL-01148, enjoining the Department of
					 State Revenue from enforcing any part of the rules adopted in LSA Document
					 #02-40F , printed at 26 IR 2300. See 16 IR 1369 for text of this
					 section.
Indiana Administrative Code › Title 45 - DEPARTMENT OF STATE REVENUE › Article 18 - CHARITY GAMING › Rule 1 - Definitions › Section 1-9 - "Affiliate" defined (Transferred)

Current through July 10, 2024
Transferred from the Department of State Revenue ( 45 IAC
					 18-1-9 ) to the Indiana Gaming Commission ( 68 IAC 20-1-2 ) by P.L. 91-2006,
					 SECTION 16, effective July 1, 2006.
Indiana Administrative Code › Title 45 - DEPARTMENT OF STATE REVENUE › Article 18 - CHARITY GAMING › Rule 1 - Definitions › Section 1-10 - "Bingo card" and "bingo paper" defined (Transferred)

Current through July 10, 2024
Transferred from the Department of State Revenue ( 45 IAC
					 18-1-10 ) to the Indiana Gaming Commission ( 68 IAC 20-1-3 ) by P.L. 91-2006,
					 SECTION 16, effective July 1, 2006.
Indiana Administrative Code › Title 45 - DEPARTMENT OF STATE REVENUE › Article 18 - CHARITY GAMING › Rule 1 - Definitions › Section 1-11 - "Bingo equipment" defined (Transferred)

Current through July 10, 2024
Transferred from the Department of State Revenue ( 45 IAC
					 18-1-11 ) to the Indiana Gaming Commission ( 68 IAC 20-1-4 ) by P.L. 91-2006,
					 SECTION 16, effective July 1, 2006.
Indiana Administrative Code › Title 45 - DEPARTMENT OF STATE REVENUE › Article 18 - CHARITY GAMING › Rule 1 - Definitions › Section 1-12 - "Bingo supplies" defined (Transferred)

Current through July 10, 2024
Transferred from the Department of State Revenue ( 45 IAC
					 18-1-12 ) to the Indiana Gaming Commission ( 68 IAC 20-1-5 ) by P.L. 91-2006,
					 SECTION 16, effective July 1, 2006.
Indiana Administrative Code › Title 45 - DEPARTMENT OF STATE REVENUE › Article 18 - CHARITY GAMING › Rule 1 - Definitions › Section 1-13 - "Calendar" defined (Transferred)

Current through July 10, 2024
Transferred from the Department of State Revenue ( 45 IAC
					 18-1-13 ) to the Indiana Gaming Commission ( 68 IAC 20-1-6 ) by P.L. 91-2006,
					 SECTION 16, effective July 1, 2006.
Indiana Administrative Code › Title 45 - DEPARTMENT OF STATE REVENUE › Article 18 - CHARITY GAMING › Rule 1 - Definitions › Section 1-14 - "Calendar raffle" defined (Transferred)

Current through July 10, 2024
Transferred from the Department of State Revenue ( 45 IAC
					 18-1-14 ) to the Indiana Gaming Commission ( 68 IAC 20-1-7 ) by P.L. 91-2006,
					 SECTION 16, effective July 1, 2006.
Indiana Administrative Code › Title 45 - DEPARTMENT OF STATE REVENUE › Article 18 - CHARITY GAMING › Rule 1 - Definitions › Section 1-15 - "Charity game night" defined (Transferred)

Current through July 10, 2024
Transferred from the Department of State Revenue ( 45 IAC
					 18-1-15 ) to the Indiana Gaming Commission ( 68 IAC 20-1-8 ) by P.L. 91-2006,
					 SECTION 16, effective July 1, 2006.
Indiana Administrative Code › Title 45 - DEPARTMENT OF STATE REVENUE › Article 18 - CHARITY GAMING › Rule 1 - Definitions › Section 1-16 - "Computer or other technologic aid" defined (Transferred)

Current through July 10, 2024
Transferred from the Department of State Revenue ( 45 IAC
					 18-1-16 ) to the Indiana Gaming Commission ( 68 IAC 20-1-9 ) by P.L. 91-2006,
					 SECTION 16, effective July 1, 2006.
Indiana Administrative Code › Title 45 - DEPARTMENT OF STATE REVENUE › Article 18 - CHARITY GAMING › Rule 1 - Definitions › Section 1-17 - "Concealed face bingo card" defined (Transferred)

Current through July 10, 2024
Transferred from the Department of State Revenue ( 45 IAC
					 18-1-17 ) to the Indiana Gaming Commission ( 68 IAC 20-1-10 ) by P.L. 91-2006,
					 SECTION 16, effective July 1, 2006.
Indiana Administrative Code › Title 45 - DEPARTMENT OF STATE REVENUE › Article 18 - CHARITY GAMING › Rule 1 - Definitions › Section 1-18 - "Conduct prejudicial to the public confidence in the department" defined (Transferred)

Current through July 10, 2024
Transferred from the Department of State Revenue ( 45 IAC
					 18-1-18 ) to the Indiana Gaming Commission ( 68 IAC 20-1-11 ) by P.L. 91-2006,
					 SECTION 16, effective July 1, 2006.
Indiana Administrative Code › Title 45 - DEPARTMENT OF STATE REVENUE › Article 18 - CHARITY GAMING › Rule 1 - Definitions › Section 1-19 - "Deal" defined (Transferred)

Current through July 10, 2024
Transferred from the Department of State Revenue ( 45 IAC
					 18-1-19 ) to the Indiana Gaming Commission ( 68 IAC 20-1-12 ) by P.L. 91-2006,
					 SECTION 16, effective July 1, 2006.
Indiana Administrative Code › Title 45 - DEPARTMENT OF STATE REVENUE › Article 18 - CHARITY GAMING › Rule 1 - Definitions › Section 1-20 - "Dispensing device" defined (Transferred)

Current through July 10, 2024
Transferred from the Department of State Revenue ( 45 IAC
					 18-1-20 ) to the Indiana Gaming Commission ( 68 IAC 20-1-13 ) by P.L. 91-2006,
					 SECTION 16, effective July 1, 2006.
Indiana Administrative Code › Title 45 - DEPARTMENT OF STATE REVENUE › Article 18 - CHARITY GAMING › Rule 1 - Definitions › Section 1-21 - "Door prize" defined (Transferred)

Current through July 10, 2024
Transferred from the Department of State Revenue ( 45 IAC
					 18-1-21 ) to the Indiana Gaming Commission ( 68 IAC 20-1-14 ) by P.L. 91-2006,
					 SECTION 16, effective July 1, 2006.
Indiana Administrative Code › Title 45 - DEPARTMENT OF STATE REVENUE › Article 18 - CHARITY GAMING › Rule 1 - Definitions › Section 1-22 - "Existence" defined (Transferred)

Current through July 10, 2024
Transferred from the Department of State Revenue ( 45 IAC
					 18-1-22 ) to the Indiana Gaming Commission ( 68 IAC 20-1-15 ) by P.L. 91-2006,
					 SECTION 16, effective July 1, 2006.
Indiana Administrative Code › Title 45 - DEPARTMENT OF STATE REVENUE › Article 18 - CHARITY GAMING › Rule 1 - Definitions › Section 1-23 - "Festival" defined (Transferred)

Current through July 10, 2024
Transferred from the Department of State Revenue ( 45 IAC
					 18-1-23 ) to the Indiana Gaming Commission ( 68 IAC 20-1-16 ) by P.L. 91-2006,
					 SECTION 16, effective July 1, 2006.
Indiana Administrative Code › Title 45 - DEPARTMENT OF STATE REVENUE › Article 18 - CHARITY GAMING › Rule 1 - Definitions › Section 1-24 - "Flare" defined (Transferred)

Current through July 10, 2024
Transferred from the Department of State Revenue ( 45 IAC
					 18-1-24 ) to the Indiana Gaming Commission ( 68 IAC 20-1-17 ) by P.L. 91-2006,
					 SECTION 16, effective July 1, 2006.
Indiana Administrative Code › Title 45 - DEPARTMENT OF STATE REVENUE › Article 18 - CHARITY GAMING › Rule 1 - Definitions › Section 1-25 - "In existence for at least twenty-five (25) years" defined (Transferred)

Current through July 10, 2024
Transferred from the Department of State Revenue ( 45 IAC
					 18-1-25 ) to the Indiana Gaming Commission ( 68 IAC 20-1-18 ) by P.L. 91-2006,
					 SECTION 16, effective July 1, 2006.
Indiana Administrative Code › Title 45 - DEPARTMENT OF STATE REVENUE › Article 18 - CHARITY GAMING › Rule 1 - Definitions › Section 1-26 - "In good standing with the department" defined (Transferred)

Current through July 10, 2024
Transferred from the Department of State Revenue ( 45 IAC
					 18-1-26 ) to the Indiana Gaming Commission ( 68 IAC 20-1-19 ) by P.L. 91-2006,
					 SECTION 16, effective July 1, 2006.
Indiana Administrative Code › Title 45 - DEPARTMENT OF STATE REVENUE › Article 18 - CHARITY GAMING › Rule 1 - Definitions › Section 1-27 - "Location" defined (Transferred)

Current through July 10, 2024
Transferred from the Department of State Revenue ( 45 IAC
					 18-1-27 ) to the Indiana Gaming Commission ( 68 IAC 20-1-20 ) by P.L. 91-2006,
					 SECTION 16, effective July 1, 2006.
Indiana Administrative Code › Title 45 - DEPARTMENT OF STATE REVENUE › Article 18 - CHARITY GAMING › Rule 1 - Definitions › Section 1-28 - "Member" defined (Transferred)

Current through July 10, 2024
Transferred from the Department of State Revenue ( 45 IAC
					 18-1-28 ) to the Indiana Gaming Commission ( 68 IAC 20-1-21 ) by P.L. 91-2006,
					 SECTION 16, effective July 1, 2006.
Indiana Administrative Code › Title 45 - DEPARTMENT OF STATE REVENUE › Article 18 - CHARITY GAMING › Rule 1 - Definitions › Section 1-29 - "Nationally recognized charitable organization" defined (Transferred)

Current through July 10, 2024
Transferred from the Department of State Revenue ( 45 IAC
					 18-1-29 ) to the Indiana Gaming Commission ( 68 IAC 20-1-22 ) by P.L. 91-2006,
					 SECTION 16, effective July 1, 2006.
Indiana Administrative Code › Title 45 - DEPARTMENT OF STATE REVENUE › Article 18 - CHARITY GAMING › Rule 1 - Definitions › Section 1-30 - "Operator" defined (Transferred)

Current through July 10, 2024
Transferred from the Department of State Revenue ( 45 IAC
					 18-1-30 ) to the Indiana Gaming Commission ( 68 IAC 20-1-23 ) by P.L. 91-2006,
					 SECTION 16, effective July 1, 2006.
Indiana Administrative Code › Title 45 - DEPARTMENT OF STATE REVENUE › Article 18 - CHARITY GAMING › Rule 1 - Definitions › Section 1-31 - "Pull-tab" defined (Transferred)

Current through July 10, 2024
Transferred from the Department of State Revenue ( 45 IAC
					 18-1-31 ) to the Indiana Gaming Commission ( 68 IAC 20-1-24 ) by P.L. 91-2006,
					 SECTION 16, effective July 1, 2006.
Indiana Administrative Code › Title 45 - DEPARTMENT OF STATE REVENUE › Article 18 - CHARITY GAMING › Rule 1 - Definitions › Section 1-32 - "Punchboard" defined (Transferred)

Current through July 10, 2024
Transferred from the Department of State Revenue ( 45 IAC
					 18-1-32 ) to the Indiana Gaming Commission ( 68 IAC 20-1-25 ) by P.L. 91-2006,
					 SECTION 16, effective July 1, 2006.
Indiana Administrative Code › Title 45 - DEPARTMENT OF STATE REVENUE › Article 18 - CHARITY GAMING › Rule 1 - Definitions › Section 1-33 - "Premises" defined (Transferred)

Current through July 10, 2024
Transferred from the Department of State Revenue ( 45 IAC
					 18-1-33 ) to the Indiana Gaming Commission ( 68 IAC 20-1-26 ) by P.L. 91-2006,
					 SECTION 16, effective July 1, 2006.
Indiana Administrative Code › Title 45 - DEPARTMENT OF STATE REVENUE › Article 18 - CHARITY GAMING › Rule 1 - Definitions › Section 1-34 - "Raffle" defined (Transferred)

Current through July 10, 2024
Transferred from the Department of State Revenue ( 45 IAC
					 18-1-34 ) to the Indiana Gaming Commission ( 68 IAC 20-1-27 ) by P.L. 91-2006,
					 SECTION 16, effective July 1, 2006.
Indiana Administrative Code › Title 45 - DEPARTMENT OF STATE REVENUE › Article 18 - CHARITY GAMING › Rule 1 - Definitions › Section 1-35 - "Revoke" defined (Transferred)

Current through July 10, 2024
Transferred from the Department of State Revenue ( 45 IAC
					 18-1-35 ) to the Indiana Gaming Commission ( 68 IAC 20-1-28 ) by P.L. 91-2006,
					 SECTION 16, effective July 1, 2006.
Indiana Administrative Code › Title 45 - DEPARTMENT OF STATE REVENUE › Article 18 - CHARITY GAMING › Rule 1 - Definitions › Section 1-36 - "Seal card" defined (Transferred)

Current through July 10, 2024
Transferred from the Department of State Revenue ( 45 IAC
					 18-1-36 ) to the Indiana Gaming Commission ( 68 IAC 20-1-29 ) by P.L. 91-2006,
					 SECTION 16, effective July 1, 2006.
Indiana Administrative Code › Title 45 - DEPARTMENT OF STATE REVENUE › Article 18 - CHARITY GAMING › Rule 1 - Definitions › Section 1-37 - "Serves a majority of counties in Indiana" defined (Transferred)

Current through July 10, 2024
Transferred from the Department of State Revenue ( 45 IAC
					 18-1-37 ) to the Indiana Gaming Commission ( 68 IAC 20-1-30 ) by P.L. 91-2006,
					 SECTION 16, effective July 1, 2006.
Indiana Administrative Code › Title 45 - DEPARTMENT OF STATE REVENUE › Article 18 - CHARITY GAMING › Rule 1 - Definitions › Section 1-38 - "Suspend" defined (Transferred)

Current through July 10, 2024
Transferred from the Department of State Revenue ( 45 IAC
					 18-1-38 ) to the Indiana Gaming Commission ( 68 IAC 20-1-31 ) by P.L. 91-2006,
					 SECTION 16, effective July 1, 2006.
Indiana Administrative Code › Title 45 - DEPARTMENT OF STATE REVENUE › Article 18 - CHARITY GAMING › Rule 1 - Definitions › Section 1-39 - "Tip board" defined (Transferred)

Current through July 10, 2024
Transferred from the Department of State Revenue ( 45 IAC
					 18-1-39 ) to the Indiana Gaming Commission ( 68 IAC 20-1-32 ) by P.L. 91-2006,
					 SECTION 16, effective July 1, 2006.
Indiana Administrative Code › Title 45 - DEPARTMENT OF STATE REVENUE › Article 18 - CHARITY GAMING › Rule 1 - Definitions › Section 1-40 - "Tip board ticket" defined (Transferred)

Current through July 10, 2024
Transferred from the Department of State Revenue ( 45 IAC
					 18-1-40 ) to the Indiana Gaming Commission ( 68 IAC 20-1-33 ) by P.L. 91-2006,
					 SECTION 16, effective July 1, 2006.
Indiana Administrative Code › Title 45 - DEPARTMENT OF STATE REVENUE › Article 18 - CHARITY GAMING › Rule 1 - Definitions › Section 1-41 - "Value" defined (Transferred)

Current through July 10, 2024
Transferred from the Department of State Revenue ( 45 IAC
					 18-1-41 ) to the Indiana Gaming Commission ( 68 IAC 20-1-34 ) by P.L. 91-2006,
					 SECTION 16, effective July 1, 2006.
Indiana Administrative Code › Title 45 - DEPARTMENT OF STATE REVENUE › Article 18 - CHARITY GAMING › Rule 1 - Definitions › Section 1-42 - "Wager" defined (Transferred)

Current through July 10, 2024
Transferred from the Department of State Revenue ( 45 IAC
					 18-1-42 ) to the Indiana Gaming Commission ( 68 IAC 20-1-35 ) by P.L. 91-2006,
					 SECTION 16, effective July 1, 2006.
Indiana Administrative Code › Title 45 - DEPARTMENT OF STATE REVENUE › Article 18 - CHARITY GAMING › Rule 1 - Definitions › Section 1-43 - "Worker" defined (Transferred)

Current through July 10, 2024
Transferred from the Department of State Revenue ( 45 IAC
					 18-1-43 ) to the Indiana Gaming Commission ( 68 IAC 20-1-36 ) by P.L. 91-2006,
					 SECTION 16, effective July 1, 2006.
Indiana Administrative Code › Title 45 - DEPARTMENT OF STATE REVENUE › Article 18 - CHARITY GAMING › Rule 2 - Application Procedures for Licensee (Transferred)

Current through July 10, 2024
Transferred from the Department of State Revenue ( 45 IAC
				  18-2 ) to the Indiana Gaming Commission ( 68 IAC 20-2 ) by P.L. 91-2006,
				  SECTION 16, effective July 1, 2006.
Indiana Administrative Code › Title 45 - DEPARTMENT OF STATE REVENUE › Article 18 - CHARITY GAMING › Rule 3 - Charity Gaming › Section 3-1 - Allowable events (Transferred)

Current through July 10, 2024
Transferred from the Department of State Revenue ( 45 IAC
					 18-3-1 ) to the Indiana Gaming Commission ( 68 IAC 20-3-1 ) by P.L. 91-2006,
					 SECTION 16, effective July 1, 2006.
Indiana Administrative Code › Title 45 - DEPARTMENT OF STATE REVENUE › Article 18 - CHARITY GAMING › Rule 3 - Charity Gaming › Section 3-2 - Conducting an allowable event (Transferred)

Current through July 10, 2024
Transferred from the Department of State Revenue ( 45 IAC
					 18-3-2 ) to the Indiana Gaming Commission ( 68 IAC 20-3-2 ) by P.L. 91-2006,
					 SECTION 16, effective July 1, 2006.
Indiana Administrative Code › Title 45 - DEPARTMENT OF STATE REVENUE › Article 18 - CHARITY GAMING › Rule 3 - Charity Gaming › Section 3-3 - Product specifications (Repealed)

Current through July 10, 2024
On October 4, 2004, the Marion County Superior Court No. 10
					 issued an Order in Cause No. 49D10-0306-PL-01148, enjoining the Department of
					 State Revenue from enforcing any part of the rules adopted in LSA Document
					 #02-40F , printed at 26 IR 2300. See 16 IR 1374 for text of this
					 section.