reglab/statecodes huggingface dataset:
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 5.1 - PUBLIC UTILITY ASSESSMENT › Rule 1 - Definitions › Section 1-6 - "Capital lease" defined

Current through July 10, 2024
Authority: IC 6-1.1-31-1
Affected: IC 6-1.1-8-2
Sec. 6.
"Capital lease" means a lease that should be capitalized by
				  the lessee for federal income tax purposes and meets one (1) or more of the
				  following requirements:
(1) Ownership
				of the property is transferred to the lessee at or before the end of the lease
				term.
(2) The lease permits the
				lessee to purchase the property or renew the lease at a price or rental which
				is substantially less than the estimated market value or fair rental of the
				leased property at the time the option to purchase or renew the lease is
				exercised.
(3) The lease term is
				equal to seventy-five percent (75%) or more of the estimated economic life of
				the leased property.
(4) The
				present value of the minimum lease payments equals or exceeds ninety percent
				(90%) of the fair market value of the leased property at the inception of the
				lease.
A capital lease may be a sales-type lease, a direct financing
				  lease, or a leveraged lease.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 5.1 - PUBLIC UTILITY ASSESSMENT › Rule 1 - Definitions › Section 1-7 - "Construction in progress" defined

Current through July 10, 2024
Authority: IC 6-1.1-31-1
Affected: IC 6-1.1-8-2
Sec. 7.
"Construction in progress" means tangible personal property
				  that has not been placed in service on the assessment date. Construction in
				  progress has not been depreciated and is not eligible for federal income tax
				  depreciation under Section 167 of the Internal Revenue Code of 1986.
				  Construction in progress does not include the inventory of a contractor that is
				  not a part of the real or personal property under construction. A contractor's
				  inventory must be valued and reported as provided in 50 IAC 4.2-5. Tangible
				  personal property, normally assessed as inventory and held in abeyance or
				  stored temporarily, and which possession may be transferred to another person
				  to be attached to or become a part of an asset subject to assessment for
				  personal property tax purposes, is taxable as inventory as provided in 50 IAC
				  4.2-5-1 or 50 IAC 5.1-8 and is not construction in progress.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 5.1 - PUBLIC UTILITY ASSESSMENT › Rule 1 - Definitions › Section 1-8.5 - "Department" defined

Current through July 10, 2024
Authority: IC 6-1.1-8-42; IC 6-1.1-31-1
Affected: IC 6-1.1-8-2
Sec. 8.5.
"Department" means the department of local government
				  finance.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 5.1 - PUBLIC UTILITY ASSESSMENT › Rule 1 - Definitions › Section 1-9 - "Distributable property" defined

Current through July 10, 2024
Authority: IC
				  6-1.1-8-42;
				  IC
				  6-1.1-31-1
Affected: IC
				  6-1.1-8-2
Sec. 9.
"Distributable property" means property owned or used by a
				  public utility company that is not locally assessed real property or locally
				  assessed personal property. Distributable property is that property used to
				  furnish the public utility service. The right-of-way of a public utility
				  company is distributable property. It may consist of the public utility
				  company's transportation system, production plant, transmission system, or
				  distribution system. The department distributes to the appropriate taxing
				  districts the assessed value of the public utility company's distributable
				  property.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 5.1 - PUBLIC UTILITY ASSESSMENT › Rule 1 - Definitions › Section 1-10 - "Express company" defined

Current through July 10, 2024
Authority: IC 6-1.1-31-1
Affected: IC 6-1.1-8-2
Sec. 10.
"Express company" means a company which:
(1) is engaged in the business of
				transporting property by land, air, or water; and
(2) does not itself operate the vehicles
				(except for terminal pickup and delivery vehicles) of transportation.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 5.1 - PUBLIC UTILITY ASSESSMENT › Rule 1 - Definitions › Section 1-11 - "Fixed property" defined

Current through July 10, 2024
Authority: IC 6-1.1-31-1
Affected: IC 6-1.1-8-2
Sec. 11.
"Fixed property" means property that is assessed by the
				  township assessor in the taxing district where it is located. The term may
				  include both locally assessed personal property and locally assessed real
				  property. Fixed property is also known as locally assessed property.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 5.1 - PUBLIC UTILITY ASSESSMENT › Rule 1 - Definitions › Section 1-12 - "Inventory" defined

Current through July 10, 2024
Authority: IC 6-1.1-31-1
Affected: IC 6-1.1-8-2
Sec. 12.
"Inventory" has the same meaning as set forth in 50 IAC
				  4.2-5-1.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 5.1 - PUBLIC UTILITY ASSESSMENT › Rule 1 - Definitions › Section 1-13 - "Leased property" defined

Current through July 10, 2024
Authority: IC
				  6-1.1-8-42;
				  IC
				  6-1.1-31-1
Affected: IC
				  6-1.1-8-2
Sec. 13.
"Leased property" means property that is leased, rented, or
				  otherwise made available to a person other than the owner under a bailment
				  agreement, written or unwritten. The term does not include locally assessed
				  real property, inventory, special tooling, or returnable containers. Leased
				  property may include:
(1) business
				machines;
(2) postage
				meters;
(3) machinery;
(4) equipment;
(5) furniture;
(6) fixtures;
(7) coin-operated devices;
(8) tools;
(9) burglar alarms;
(10) signs and other advertising
				devices;
(11) motor vehicles;
				and
(12) any other property used in
				the course or conduct of business; which are loaned, leased, used, or otherwise
				held in the possession of a person other than the owner on the assessment date
				whether or not any fees are charged.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 5.1 - PUBLIC UTILITY ASSESSMENT › Rule 1 - Definitions › Section 1-14 - "Light, heat, or power company" defined

Current through July 10, 2024
Authority: IC 6-1.1-31-1
Affected: IC 6-1.1-8-2
Sec. 14.
"Light, heat, or power company" means a company that is
				  engaged in the business of furnishing light, heat, or power by electricity,
				  gas, or steam. Light, heat, and power companies may be:
(1) investor-owned electric and steam heat
				companies;
(2) rural electric
				membership corporations or cooperatives; or
(3) natural gas distribution
				companies.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 5.1 - PUBLIC UTILITY ASSESSMENT › Rule 1 - Definitions › Section 1-15 - "Locally assessed personal property" defined

Current through July 10, 2024
Authority: IC 6-1.1-31-1
Affected: IC 6-1.1-8-2
Sec. 15.
"Locally assessed personal property" means tangible personal
				  property owned or used by the public utility company (except for a railroad
				  company) that is not used as part of the company's production plant,
				  transmission system, or distribution system. For a railroad company, "locally
				  assessed personal property" means tangible personal property owned or used by
				  the railroad company that is not used in the operation of the railroad. Locally
				  assessed personal property must be reported on the appropriate form by the
				  public utility company to the township assessor where the property is located.
				  In general, locally assessed personal property consists of the
				  following:
(1) Automotive and other
				mobile equipment (except that of a bus company or railroad company).
(2) Office furniture and fixtures.
(3) Maintenance equipment not used as part of
				the production, transmission, or distribution system (including general plant
				related items such as stores, tools, and shop and garage equipment).
(4) The inventory of materials held for use
				in production and property held for sale in the ordinary course of trade or
				business.
(5) Other tangible
				personal property which is not used as a part of the public utility company's
				production plant, transmission system, or distribution system.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 5.1 - PUBLIC UTILITY ASSESSMENT › Rule 1 - Definitions › Section 1-16 - "Locally assessed property" defined

Current through July 10, 2024
Authority: IC 6-1.1-31-1
Affected: IC 6-1.1-8-2
Sec. 16.
"Locally assessed property" means property that is assessed
				  by the township assessor in the taxing district where it is located. The term
				  includes both locally assessed personal property and locally assessed real
				  property. Locally assessed property is also known as fixed property.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 5.1 - PUBLIC UTILITY ASSESSMENT › Rule 1 - Definitions › Section 1-17 - "Locally assessed real property" defined

Current through July 10, 2024
Authority: IC 6-1.1-31-1
Affected: IC 6-1.1-8-2
Sec. 17.
"Locally assessed real property" means fixed real property
				  owned or used by a public utility company that is assessed by the township
				  assessor in the taxing district where it is located. Real property may include
				  both land and improvements. It does not include the right-of-way of a public
				  utility company. For a railroad company, it includes only the right-of-way land
				  and buildings leased to commercial tenants, the land adjoining the right-of-way
				  devoted to industrial parks, any abandoned right-of-way, and railroad land and
				  buildings not being used for railroad operations will be locally assessed real
				  property.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 5.1 - PUBLIC UTILITY ASSESSMENT › Rule 1 - Definitions › Section 1-18 - "Materials and supplies" defined

Current through July 10, 2024
Authority: IC 6-1.1-8-42; IC 6-1.1-31-1
Affected: IC 6-1.1-8-2
Sec. 18.
"Materials and supplies" has the meaning set forth in
				  50 IAC
				  4.2-5-1(b)(3).
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 5.1 - PUBLIC UTILITY ASSESSMENT › Rule 1 - Definitions › Section 1-19 - "Operating lease" defined

Current through July 10, 2024
Authority: IC 6-1.1-31-1
Affected: IC 6-1.1-8-2
Sec. 19.
"Operating lease" means a lease other than a capital
				  lease.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 5.1 - PUBLIC UTILITY ASSESSMENT › Rule 1 - Definitions › Section 1-20 - "Pipe line company" defined

Current through July 10, 2024
Authority: IC
				  6-1.1-8-42;
				  IC
				  6-1.1-31-1
Affected: IC
				  6-1.1-8-2
Sec. 20.
"Pipe line company" means a company that is engaged in the
				  business of transporting or transmitting any gas or fluid (except water)
				  through pipes.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 5.1 - PUBLIC UTILITY ASSESSMENT › Rule 1 - Definitions › Section 1-21 - "Public utility company" defined

Current through July 10, 2024
Authority: IC 6-1.1-31-1
Affected: IC 6-1.1-8
Sec. 21.
"Public utility company" means a company that is subject to
				  taxation under IC 6-1.1-8 regardless of whether the company is operated by an
				  individual, a partnership, an association, a corporation, a fiduciary, or any
				  other entity.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 5.1 - PUBLIC UTILITY ASSESSMENT › Rule 1 - Definitions › Section 1-22 - "Public utility property" defined

Current through July 10, 2024
Authority: IC 6-1.1-31-1
Affected: IC 6-1.1-8-2
Sec. 22.
"Public utility property" means property owned or used by a
				  public utility company.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 5.1 - PUBLIC UTILITY ASSESSMENT › Rule 1 - Definitions › Section 1-23 - "Railcar company" defined

Current through July 10, 2024
Authority: IC
				  6-1.1-8-42;
				  IC
				  6-1.1-31-1
Affected: IC
				  6-1.1-8-2
Sec. 23.
"Railcar company" means a company (other than a railroad
				  company) that owns or operates cars for the transportation of property on
				  railroads.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 5.1 - PUBLIC UTILITY ASSESSMENT › Rule 1 - Definitions › Section 1-24 - "Railroad company" defined

Current through July 10, 2024
Authority: IC 6-1.1-31-1
Affected: IC 6-1.1-8-2
Sec. 24.
"Railroad company" means a company that owns or
				  operates:
(1) a steam or electric
				railroad;
(2) a suburban or
				interurban railroad;
(3) a
				switching or terminal railroad;
(4)
				a railroad station, track, or bridge; or
(5) a facility that is part of a railroad
				system.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 5.1 - PUBLIC UTILITY ASSESSMENT › Rule 1 - Definitions › Section 1-25 - "Returnable containers" defined

Current through July 10, 2024
Authority: IC
				  6-1.1-8-42;
				  IC
				  6-1.1-31-1
Affected: IC
				  6-1.1-8-2
Sec. 25.
"Returnable containers" means those items of tangible
				  personal property that are used to package inventory or other property while in
				  transit that are reusable. Returnable containers may include:
(1) cooperage;
(2) skids;
(3) bottles;
(4) cases;
(5) pallets; and
(6) other packaging devices.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 5.1 - PUBLIC UTILITY ASSESSMENT › Rule 1 - Definitions › Section 1-26 - "Sewage company" defined

Current through July 10, 2024
Authority: IC 6-1.1-31-1
Affected: IC 6-1.1-8-2
Sec. 26.
"Sewage company" means a company that is engaged in the
				  business of operating a sewage system or a sewage treatment plant.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 5.1 - PUBLIC UTILITY ASSESSMENT › Rule 1 - Definitions › Section 1-27 - "Sleeping car company" defined

Current through July 10, 2024
Authority: IC 6-1.1-31-1
Affected: IC 6-1.1-8-2
Sec. 27.
"Sleeping car company" means a company (other than a railroad
				  company) which owns or operates cars for the transportation of passengers on
				  railroads.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 5.1 - PUBLIC UTILITY ASSESSMENT › Rule 1 - Definitions › Section 1-28 - "Special tooling" defined

Current through July 10, 2024
Authority: IC 6-1.1-31-1
Affected: IC 6-1.1-8-2
Sec. 28.
"Special tooling" means tangible personal property,
				  including, but not limited to:
(1)
				tools;
(2) dies;
(3) jigs;
(4) fixtures;
(5) gauges;
(6) molds; and
(7) patterns;
acquired or made for the production of products or product
				  models which are of such specialized nature that their utility generally ceases
				  with the modification or discontinuance of such products or product models. The
				  term does not include those items being manufactured or built for sale or lease
				  to another person.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 5.1 - PUBLIC UTILITY ASSESSMENT › Rule 1 - Definitions › Section 1-30 - "Street railway company" defined

Current through July 10, 2024
Authority: IC 6-1.1-31-1
Affected: IC 6-1.1-8-2
Sec. 30.
"Street railway company" means a company which owns or
				  operates a passenger transportation business principally within one (1) or more
				  municipalities regardless of whether the transportation vehicles operate on
				  tracks, by means of electric power transmitted through wires, or by means of
				  automotive equipment.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 5.1 - PUBLIC UTILITY ASSESSMENT › Rule 1 - Definitions › Section 1-31 - "System" defined

Current through July 10, 2024
Authority: IC 6-1.1-31-1
Affected: IC 6-1.1-8-2
Sec. 31.
"System" means all property owned or used by a public utility
				  company or companies and operated as one (1) unit in furnishing a public
				  utility service.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 5.1 - PUBLIC UTILITY ASSESSMENT › Rule 1 - Definitions › Section 1-31.5 - "Tax Situs" defined

Current through July 10, 2024
Authority: IC 6-1.1-8-42; IC 6-1.1-31-1
Affected: IC 6-1.1-8-2
Sec. 31.5.
"Tax situs" means a permanent location in one (1) taxing
				  district or a customary location for use in one (1) taxing district. Customary
				  location means the location where property is regularly used.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 5.1 - PUBLIC UTILITY ASSESSMENT › Rule 1 - Definitions › Section 1-32 - "Telephone, telegraph, or cable company" defined

Current through July 10, 2024
Authority: IC 6-1.1-31-1
Affected: IC 6-1.1-8-2
Sec. 32.
"Telephone, telegraph, or cable company" means a company that
				  is principally engaged in the business of communicating by electrical
				  transmission, including the following:
(1) Cellular telephone companies.
(2) Local exchange telephone
				companies.
(3) Interexchange
				companies.
(4) Long distance
				companies.
(5) Radio-telephone
				companies.
(6) Paging services.
The term does not include a cable television
				  company.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 5.1 - PUBLIC UTILITY ASSESSMENT › Rule 1 - Definitions › Section 1-33 - "Tunnel company" defined

Current through July 10, 2024
Authority: IC 6-1.1-31-1
Affected: IC 6-1.1-8-2
Sec. 33.
"Tunnel company" means a company which owns or operates a
				  toll tunnel.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 5.1 - PUBLIC UTILITY ASSESSMENT › Rule 1 - Definitions › Section 1-34 - "Unit value" defined

Current through July 10, 2024
Authority: IC 6-1.1-31-1
Affected: IC 6-1.1-8-2
Sec. 34.
"Unit value" means the total value of all of the property of
				  a public utility company determined under this article (including all leased
				  property used by the company).
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 5.1 - PUBLIC UTILITY ASSESSMENT › Rule 1 - Definitions › Section 1-35 - "Water distribution company" defined

Current through July 10, 2024
Authority: IC 6-1.1-31-1
Affected: IC 6-1.1-8-2
Sec. 35.
"Water distribution company" means a company that is engaged
				  in the business of selling or distributing water by pipe, main, canal, or
				  ditch.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 5.1 - PUBLIC UTILITY ASSESSMENT › Rule 2 - Introduction; Companies Subject to Assessment › Section 2-1 - Purpose

Current through July 10, 2024
Authority: IC 6-1.1-8-42
Affected: IC 6-1.1-3-1; IC 6-1.1-8
Sec. 1.
(a) The
				purpose of this rule is to provide rules for the assessment of public utility
				property. This rule applies to all public utility companies.
(b) Under IC 6-1.1-8, the department makes an
				annual assessment of each public utility company.
(c) The valuation made by the department
				includes all real, personal, and distributable property of the public utility
				company, wherever located, and as applicable under the department's Real
				Property Assessment Manual and Real Property Assessment Guidelines incorporated
				by reference in
				50 IAC
				2.4-1-2.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 5.1 - PUBLIC UTILITY ASSESSMENT › Rule 2 - Introduction; Companies Subject to Assessment › Section 2-2 - Property subject to assessment

Current through July 10, 2024
Authority: IC 6-1.1-8-42; IC 6-1.1-31-1
Affected: IC 6-1.1-8-2
Sec. 2.
The property owned or used by a public utility company is
				  subject to assessment according to this rule. Property that is used by the
				  public utility company under an agreement whereby the public utility company
				  exercises the beneficial rights of ownership for a major part of a year is
				  assessed to the public utility company. Leased property may be subject to
				  assessment to the public utility company, see 50 IAC 5.1-10.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 5.1 - PUBLIC UTILITY ASSESSMENT › Rule 2 - Introduction; Companies Subject to Assessment › Section 2-3 - Companies subject to assessment

Current through July 10, 2024
Authority: IC
				  6-1.1-8-42;
				  IC
				  6-1.1-31-1
Affected: IC
				  6-1.1-8-2
Sec. 3.
(a) Except
				as provided in section 4 of this rule, the following companies are subject to
				assessment as public utility companies under this article:
(1) A company engaged in the business of
				transporting persons or property, including:
(A) bridge companies;
(B) bus companies;
(C) express companies;
(D) pipe line companies;
(E) railroad companies;
(F) railcar companies;
(G) sleeping car companies;
(H) street railway companies; and
(I) tunnel companies.
However, aviation companies (including passenger airlines and
				  air freight carriers) and trucking companies are subject to assessment under 50
				  IAC 4.2 and are not subject to assessment under this
				  article.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 5.1 - PUBLIC UTILITY ASSESSMENT › Rule 2 - Introduction; Companies Subject to Assessment › Section 2-4 - Companies excluded

Current through July 10, 2024
Authority: IC
				  6-1.1-8-42;
				  IC
				  6-1.1-31-1
Affected: IC
				  6-1.1-8-2; IC
				  6-1.1-8-3
Sec. 4.
(a) The
				companies described in IC
				6-1.1-8-3(c)
				 are not subject to assessment as public
				utility companies under this article.
(b) For purposes of exclusion under this
				article, "broadcasting companies" as named in IC
				6-1.1-8-3(c)(2)
				 includes radio broadcasting
				companies.
(c) For purposes of
				exclusion under this article, "television companies" as named in IC
				6-1.1-8-3(c)(3)
				 includes cable television broadcasting
				companies.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 5.1 - PUBLIC UTILITY ASSESSMENT › Rule 3 - Reporting Requirements › Section 3-1 - Who must file

Current through July 10, 2024
Authority: IC
				  6-1.1-8-42;
				  IC
				  6-1.1-31-1
Affected: IC
				  6-1.1-8-19
Sec. 1.
(a) Each
				year a public utility company shall file an annual report with the department
				concerning the value and description of the property that is either owned or
				used by the public utility company.
(b) In completing a report or statement, a
				public utility company shall make a complete disclosure of all information,
				required by the department, that is related to the value, nature, and location
				of property:
(1) which the public utility
				company owned; or
(2) which the
				public utility company held, possessed, controlled, or occupied.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 5.1 - PUBLIC UTILITY ASSESSMENT › Rule 3 - Reporting Requirements › Section 3-2 - What to file; annual report to department

Current through July 10, 2024
Authority: IC 6-1.1-8; IC
				  6-1.1-31-1
Affected: IC
				  6-1.1-8-19;
				  IC
				  6-1.1-8-21
Sec. 2.
(a) The
				department has designated UD Form 45, Annual Report of Public Utility Company,
				as the annual report to be filed with the department by all public utility
				companies, other than railroad companies and railcar companies.
(b) Railroad companies shall annually file UD
				Form 32, Annual Report - Railroad Property, with the department.
(c) Railcar companies shall annually file
				Form RC-1, Report of Railcar Tax, with the department.
(d) Along with the UD Form 45 or the UD Form
				32, a public utility company shall submit to the department information
				requested by the department, including:
(1)
				the most recent financial statements;
(2) information concerning depreciation
				records; and
(3) the most recent
				annual report to shareholders or members; to the extent that such reports,
				records, or statements exist.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 5.1 - PUBLIC UTILITY ASSESSMENT › Rule 3 - Reporting Requirements › Section 3-2.5 - How to file

Current through July 10, 2024
Authority: IC 6-1.1-8-42; IC 6-1.1-31-1
Affected: IC 6-1.1-8-23
Sec. 2.5.
(a)
				Reports filed pursuant to this rule must be filed by:
(1) personal delivery;
(2) deposit in the United States
				mail;
(3) registered or certified
				mail, return receipt requested; or
(4) electronic mail.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 5.1 - PUBLIC UTILITY ASSESSMENT › Rule 3 - Reporting Requirements › Section 3-4 - Due date

Current through July 10, 2024
Authority: IC
				  6-1.1-8-42
Affected: IC
				  6-1.1-8-19
Sec. 4.
(a) A public
				utility company, except a railcar company, shall file its annual report with
				the department on or before April 1 of that year unless a filing extension has
				been granted by the department under section 6 of this rule.
(b) A railcar company shall file its annual
				report with the department on or before July 1 of that year unless a filing
				extension has been granted by the department under section 6 of this
				rule.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 5.1 - PUBLIC UTILITY ASSESSMENT › Rule 3 - Reporting Requirements › Section 3-5 - Duty to file

Current through July 10, 2024
Authority: IC
				  6-1.1-8-42;
				  IC
				  6-1.1-31-1
Affected: IC
				  6-1.1-8-19
Sec. 5.
(a) It is
				the responsibility of the public utility company to obtain the necessary report
				forms and timely file the required reports with the department.
(b) The department will furnish each public
				utility company with the appropriate forms to complete their respective annual
				reports. However, the obligation to file the required report is not diminished
				or affected by the failure of the department to deliver or mail forms to the
				public utility company. It is the responsibility of the public utility company
				to obtain the necessary report forms and timely file the required reports with
				the department.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 5.1 - PUBLIC UTILITY ASSESSMENT › Rule 3 - Reporting Requirements › Section 3-6 - Extension of time

Current through July 10, 2024
Authority: IC
				  6-1.1-8-42;
				  IC
				  6-1.1-31-1
Affected: IC
				  6-1.1-8-19
Sec. 6.
(a) The
				department may extend the due date for the annual report for a public utility
				company.
(b) The department may
				grant a general extension to all public utility companies or classes of public
				utility companies. The department will notify the public utility company of any
				general extension.
(c) An extension
				of the due date, or an extension beyond the general extension granted under
				subsection (b), shall be considered by the department if:
(1) the public utility company submits a
				written request for an extension at least five (5) calendar days prior to the
				due date; and
(2) the public
				utility company cannot file on or before the due date because of extraordinary
				and unusual circumstances.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 5.1 - PUBLIC UTILITY ASSESSMENT › Rule 3 - Reporting Requirements › Section 3-7 - Liability for taxes

Current through July 10, 2024
Authority: IC 6-1.1-8-42; IC 6-1.1-31-1
Affected: IC 6-1.1-2-4; IC 6-1.1-8-1
Sec. 7.
(a) The owner
				of any tangible property on the assessment date of a year is liable for the
				taxes imposed on the property for that year.
(b) A public utility company holding,
				possessing, controlling, or occupying any tangible property on the assessment
				date of a year is liable for the taxes imposed on the property for that year
				unless:
(1) the public utility company
				establishes that the property is being assessed and taxed in the name of the
				owner; or
(2) the owner is liable
				for the taxes under a contract with that person.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 5.1 - PUBLIC UTILITY ASSESSMENT › Rule 3 - Reporting Requirements › Section 3-8 - Disclosure of information

Current through July 10, 2024
Authority: IC 6-1.1-8-42; IC 6-1.1-31-1
Affected: IC 6-1.1-2-4; IC 6-1.1-3-9; IC 6-1.1-8-21
Sec. 8.
(a) In
				completing the annual report, a public utility company shall make a complete
				disclosure of all information required by the department.
(b) A public utility company that holds,
				possesses, controls, or occupies property that it does not own must make a full
				disclosure, on the forms provided by the department, of the not-owned property
				and information relating to that property. The required information shall
				include the name and address of the owner, model, description, location,
				quantities on hand, date of installation, value (if known) as required by this
				article, and any other information requested on the appropriate form. (See
				special instructions in
				50
				IAC 5.1-10-3 for reporting leased personal
				property.)
(c) Failure to properly
				disclose property that a public utility company holds, possesses, or controls
				shall result in the assessment of the property to the public utility company.
				See, State Board of Tax Commissioners v. Jewell Grain Company 556 N.E.2d 920
				(Ind. 1990).
(d) Information is
				required to be submitted by the holder, possessor, or controller even if the
				owner is liable for the taxes under a contract to ensure that the assessing
				official has the necessary information to correctly assess the property in
				question.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 5.1 - PUBLIC UTILITY ASSESSMENT › Rule 3 - Reporting Requirements › Section 3-9 - Penalty

Current through July 10, 2024
Authority: IC
				  6-1.1-8-42;
				  IC
				  6-1.1-31-1
Affected: IC
				  6-1.1-2-4;
				  IC
				  6-1.1-8-20
Sec. 9.
(a) If a
				public utility company does not file the annual report required under section 2
				of this rule with the department on or before the due date, the company will
				incur a penalty of one hundred dollars ($100) per day for each day that the
				annual report is late. However, a penalty under this subsection may not exceed
				one thousand dollars ($1,000).
(b)
				An annual report is not considered to be complete unless the report contains
				the information required by the department and is signed under the penalty of
				perjury by an authorized person.
(c) A public utility company that does not
				file a complete annual report is subject to the penalty provided in subsection
				(a) for each day that the annual report is not complete.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 5.1 - PUBLIC UTILITY ASSESSMENT › Rule 4 - Assessment, Appeal, and Review › Section 4-1 - Tentative assessment

Current through July 10, 2024
Authority: IC
				  6-1.1-8-42;
				  IC
				  6-1.1-31-1
Affected: IC
				  6-1.1-2-4;
				  IC
				  6-1.1-8-12;
				  IC
				  6-1.1-8-28
Sec. 1.
(a) Each
				year the department shall determine the true tax value of the property of each
				public utility company. Except for railcar companies, the department shall
				determine the true tax value by first determining the approximate unit value of
				each public utility company. The value of the distributable property of a
				public utility company, other than a railcar company, equals the remainder of:
(1) the unit value of the company;
				minus
(2) the value of the
				company's fixed property.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 5.1 - PUBLIC UTILITY ASSESSMENT › Rule 4 - Assessment, Appeal, and Review › Section 4-2 - Assessment by department

Current through July 10, 2024
Authority: IC 6-1.1-8-42; IC 6-1.1-31-1
Affected: IC 6-1.1-8-22
Sec. 2.
The department shall assess the property of a public utility
				  company based upon the information available to the department if the public
				  utility company:
(1) does not file a
				statement that is required under
				50
				IAC 5.1-3-2;
(2) does not permit the department to examine
				the public utility company's property, books, or records; or
(3) does not comply with a summons issued by
				the department.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 5.1 - PUBLIC UTILITY ASSESSMENT › Rule 4 - Assessment, Appeal, and Review › Section 4-3 - Tentative assessment; notice; objection; hearings

Current through July 10, 2024
Authority: IC
				  6-1.1-8-42;
				  IC
				  6-1.1-31-1
Affected: IC
				  6-1.1-8-22;
				  IC
				  6-1.1-8-28
Sec. 3.
(a) Each
				year the department shall notify each public utility company of:
(1) the department's tentative assessment of
				the company's distributable property; and
(2) the value of the company's distributable
				property used by the department to determine the tentative
				assessment.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 5.1 - PUBLIC UTILITY ASSESSMENT › Rule 4 - Assessment, Appeal, and Review › Section 4-4 - Hearing; final assessment; notice

Current through July 10, 2024
Authority: IC 6-1.1-8; IC
				  6-1.1-31-1
Affected: IC
				  6-1.1-8-29
Sec. 4.
If a public utility company files its objections to, and
				  demands a hearing on, a tentative assessment within the time allowed, the
				  department shall hold a hearing on the tentative assessment at a time and place
				  fixed by the department. After the hearing, if any, the department shall make a
				  final assessment of the company's distributable property and shall notify the
				  company of the final assessment. However, the department must give notice of
				  the final assessment before September 30, in the case of railcar companies, and
				  before June 30 in the case of all other public utility companies.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 5.1 - PUBLIC UTILITY ASSESSMENT › Rule 4 - Assessment, Appeal, and Review › Section 4-5 - Appeal of final assessment

Current through July 10, 2024
Authority: IC
				  6-1.1-8-42;
				  IC
				  6-1.1-31-1
Affected: IC
				  6-1.1-8-30
Sec. 5.
If a public utility company files its objections to the
				  department's tentative assessment of the company's distributable property in
				  the manner prescribed in section 4 of this rule, the company may appeal the
				  department's final assessment of that property to the Indiana board of tax
				  review. However, the company must initiate the appeal within forty-five (45)
				  days after the date of the notice of the department's final assessment.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 5.1 - PUBLIC UTILITY ASSESSMENT › Rule 4 - Assessment, Appeal, and Review › Section 4-6 - Appeal of township assessor's assessment of fixed property

Current through July 10, 2024
Authority: IC 6-1.1-8-42; IC 6-1.1-31-1
Affected: IC 6-1.1-8-33; IC 6-1.1-15
Sec. 6.
A public utility company may appeal a township assessor's
				  assessment of locally assessed property in the manner provided in IC
				  6-1.1-15.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 5.1 - PUBLIC UTILITY ASSESSMENT › Rule 5 - Valuation of Real Property and Use of Other Factors › Section 5-1 - Valuation of real property

Current through July 10, 2024
Authority: IC 6-1.1-8-42; IC 6-1.1-31-1
Affected: IC 6-1.1-8
Sec. 1.
(a) Under IC
				6-1.1-8, the department shall make an annual assessment of each utility and
				railroad. The valuation made by the department includes all real, personal, and
				distributable property, wherever located, and as applicable under the
				department's Real Property Assessment Manual and Real Property Assessment
				Guidelines incorporated by reference in
				50 IAC
				2.4-1-2. Since locally assessed real property is
				contained within the unit valuation, this property is subtracted from the unit
				value, and the remainder, the distributable property, is distributed by the
				department.
(b) The township
				assessor, or the county assessor if there is no township assessor for the
				township, shall value locally assessed real property under 50 IAC
				2.4.
(c) In determining whether
				property is locally assessed real property, locally assessed personal property,
				or distributable property, the examples provided in Chapter 9 of the Real
				Property Assessment Guidelines are instructive.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 5.1 - PUBLIC UTILITY ASSESSMENT › Rule 5 - Valuation of Real Property and Use of Other Factors › Section 5-2 - Value as a going concern; adjustments

Current through July 10, 2024
Authority: IC
				  6-1.1-8-42;
				  IC
				  6-1.1-31-1
Affected: IC
				  6-1.1-8-26
Sec. 2.
The department, on its own motion or on petition of a public
				  utility company, may, in determining the just value of a public utility
				  company, authorize or require the use of factors other than those normally used
				  in determining a unit value of a company as a going concern.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 5.1 - PUBLIC UTILITY ASSESSMENT › Rule 5 - Valuation of Real Property and Use of Other Factors › Section 5-2.5 - use of factors

Current through July 10, 2024
Authority: IC 6-1.1-8-42; IC 6-1.1-31-1
Affected: IC 5-14-3-4; IC 6-1.1-8-26
Sec. 2.5.
(a) The
				use of other factors is permitted only in situations where the use of other
				factors is necessary to:
(1) ensure equal and
				nondiscriminatory treatment of all public utility companies within the same
				classification; or
(2) provide for
				a unit value that is not clearly unreasonable or unfair to the state or the
				public utility company.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 5.1 - PUBLIC UTILITY ASSESSMENT › Rule 5 - Valuation of Real Property and Use of Other Factors › Section 5-3 - Readily ascertainable values

Current through July 10, 2024
Authority: IC 6-1.1-8-42; IC 6-1.1-31-1
Affected: IC 6-1.1-8-26
Sec. 3.
(a) In order
				to establish uniformity, the department may determine the standard true tax
				value per unit of certain types of personal property that have a readily
				ascertainable value.
(b) The
				standard unit true tax values are published under
				50 IAC
				4.2-4-7.
(c) The types of personal property valued
				under this section are designated in
				50
				IAC 4.2-15 or memorandums and guidance documents. The
				types of personal property for which a standard unit value is determined may
				include, but are not limited to, the following:
(1) Agricultural commodities.
(2) Certain livestock.
(3) Certain types of petroleum
				products.
(4) Recreational
				vehicles.
(5) Used motor vehicles
				held for sale.
(6) Used farm
				implements held for sale.
(7)
				Railcars.
(8) Gas and fluid
				pipelines.
(9) Any other tangible
				personal property that the department determines has a readily ascertainable
				value.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 5.1 - PUBLIC UTILITY ASSESSMENT › Rule 5 - Valuation of Real Property and Use of Other Factors › Section 5-4 - Uniform useful life

Current through July 10, 2024
Authority: IC
				  6-1.1-8-42;
				  IC
				  6-1.1-31-1
Affected: IC
				  6-1.1-8-26
Sec. 4.
(a) The
				department may prescribe the useful life of certain items of personal property
				if the department determines that a uniform useful life should be required for
				all affected public utility companies in order to obtain uniformity of
				assessment.
(b) If the department
				prescribes a uniform useful life for a certain item of personal property, the
				department shall notify all affected taxpayers.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 5.1 - PUBLIC UTILITY ASSESSMENT › Rule 6 - Valuation of Depreciable Personal Property › Section 6-1 - Definitions

Current through July 10, 2024
Authority: IC 6-1.1-8-42; IC 6-1.1-31-1
Affected: IC 6-1.1-8-26; IC 6-6-6.5
Sec. 1.
(a) The
				definitions in this section apply throughout this rule.
(b) "Adjusted cost of depreciable personal
				property" means the cost of depreciable personal property adjusted for the cost
				of the following:
(1) Air pollution control
				systems, exempted under 50 IAC 5.1-12-2.
(2) Industrial waste control facilities,
				exempted under 50 IAC 5.1-12-4.
(3)
				Special tooling, described in 50 IAC 5.1-9-3.
(4) Aircraft subject to excise tax under IC
				6-6-6.5.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 5.1 - PUBLIC UTILITY ASSESSMENT › Rule 6 - Valuation of Depreciable Personal Property › Section 6-2 - Book cost determinative

Current through July 10, 2024
Authority: IC 6-1.1-8-42; IC 6-1.1-31-1
Affected: IC 6-1.1-8-26; IC 6-1.1-31
Sec. 2.
(a) The cost
				of depreciable property, both real and personal, as recorded on the public
				utility company's books and records, must be utilized in determining the value
				of the depreciable personal property subject to assessment.
(b) The cost of all depreciable personal
				property of a public utility company shall be the total amount reflected on the
				books and records of the company as of the assessment date except as provided
				in section 3 of this rule.
(c)
				Property may be depreciable personal property regardless of the account in
				which the property is carried on the books and records of the public utility
				company. For example, property classified on the public utility company's books
				and records as real property may nevertheless be depreciable personal property
				within the meaning of this article. This treatment is necessary to ensure the
				proper assessment of property, regardless of the accounting system used by the
				public utility company.
(d) Except
				as otherwise provided in this article, property is deemed to be depreciable
				personal property when a depreciation deduction is allowable for federal income
				tax purposes.
(e) The cost of
				additions and betterments is added to the original cost of the depreciable
				personal property. If an additional part is added or some other change is made
				in the fixed asset that increases its estimated useful life, production, or
				efficiency, or converts the property to a different use, it is a betterment.
				The expenditure is capitalized by adding it to the original cost of the asset.
				If a part is replaced with a similar part, the new part is shown as a new
				acquisition while the part replaced is deducted from the original cost of the
				asset.
(f) In the event a taxpayer
				cannot determine from its books and records the cost of the depreciable
				property on the assessment date, it must use:
(1) the cost per books as of the close of its
				annual financial period immediately prior to the assessment date and so
				indicate on its return;
(2) the
				book cost as of the close of its last financial period will then be adjusted to
				reflect all acquisitions and disposals of depreciable property which have
				occurred between the acquisition or disposal date and the assessment date;
				and
(3) installation costs and
				foundations applicable to machinery and equipment shall be reported and
				assessed on the same basis as the asset to which they apply.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 5.1 - PUBLIC UTILITY ASSESSMENT › Rule 6 - Valuation of Depreciable Personal Property › Section 6-3 - Mandatory adjustment

Current through July 10, 2024
Authority: IC 6-1.1-8-42; IC 6-1.1-31-1
Affected: IC 6-1.1-8-26; IC 6-1.1-31
Sec. 3.
(a) The cost
				of depreciable personal property as computed in section 2 of this rule must be
				reported at the tax basis of such property as defined in Section 1012 of the
				Internal Revenue Code of 1986. The cost of depreciable personal property shall
				not be reduced by Sections 167 (depreciation) or 179 (expense election
				deduction) of the Internal Revenue Code or any credits (such as investment tax
				credit) which would otherwise diminish the cost basis of the
				property.
(b) If the tax basis of
				the depreciable personal property is different from the cost reflected on the
				books and records of the taxpayer, an adjustment must be made to the cost per
				books of the assessable depreciable personal property. The cost reflected on
				the books and records must be adjusted to the tax basis of the
				property.
(c) The adjustment of the
				cost of depreciable personal property to its tax basis is required to be made
				regardless of whether it is an increase or decrease to the cost recorded on the
				books and records.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 5.1 - PUBLIC UTILITY ASSESSMENT › Rule 6 - Valuation of Depreciable Personal Property › Section 6-4 - Fully depreciated property

Current through July 10, 2024
Authority: IC 6-1.1-8-42; IC 6-1.1-31-1
Affected: IC 6-1.1-8-26
Sec. 4.
Depreciable personal property that has not been retired from
				  use is reported for assessment purposes whether or not the cost of the property
				  has been removed from the taxpayer's books and records.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 5.1 - PUBLIC UTILITY ASSESSMENT › Rule 6 - Valuation of Depreciable Personal Property › Section 6-5 - Nominally valued depreciable personal property

Current through July 10, 2024
Authority: IC 6-1.1-8-42; IC 6-1.1-31-1
Affected: IC 6-1.1-8-26
Sec. 5.
Depreciable personal property recorded on the books and
				  records at a nominal value or at no value must be valued at its actual
				  acquisition cost determined by reference to the insurable value in the year of
				  acquisition for Indiana property tax assessment purposes. This category of
				  property includes, but is not limited to:
(1) bulk purchases; or
(2) the acquisition of a going business
				concern.
Indiana Administrative Code › Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE › Article 5.1 - PUBLIC UTILITY ASSESSMENT › Rule 6 - Valuation of Depreciable Personal Property › Section 6-6 - Computer software

Current through July 10, 2024
Authority: IC 6-1.1-8-42; IC 6-1.1-31-1
Affected: IC 6-1.1-8-26
Sec. 6.
(a) As used
				in this section, "application software" means a written sequence of
				instructions which details the operations the equipment is to perform in order
				to achieve a specific objective of the user.
(b) As used in this section, "operational
				software" means the operational program that controls the hardware and actually
				makes the machine operational. It is fundamental and necessary to the
				functioning of the computer hardware itself and performs such functions as
				loading, scheduling, supervision, and data management. It represents the
				internalized instruction codes that translate information into a form usable by
				the equipment and controls the basic operations of the central processing unit
				to perform arithmetic and/or logical operations automatically by means of
				programmed instructions. It is not normally accessible or modifiable by the
				user.
(c) If the cost of
				depreciable personal property recorded on the books and records reflects
				charges for customer support services such as educational services,
				maintenance, or application software that relate to future periods and not to
				the value of the depreciable personal property, those charges may be deducted
				from the cost of depreciable personal property, to the extent that a separate
				charge or value can be identified.