Ind. Admin. Code tit. 45, § 2.2-6-10 - Income Exclusion Ratio Defined

Current as of January 1, 1970

45 Iac 2.2-6-10 - Income Exclusion Ratio Defined45 Iac 2.2-6-10 - Income Exclusion Ratio Defined

45 Iac 2.2-6-9 - Income Exclusion Ratio 45 Iac 2.2-6-11 - Recordkeeping Requirements on Exempt Sales Less Than Ten Cents

45 IAC 2.2-6-10 Income exclusion ratio defined

Authority: IC 6-8.1-3-3

Affected: IC 6-2.5

Sec. 10. The retail merchants' "income exclusion ratio" for a particular tax year equals a fraction as set forth:


numerator = gross income from transactions under 10¢
denominator = estimated total gross income for tax year from all retail transaction

(Department of State Revenue; Ch. 6, Reg. 6-2.5-6-8(b)(010); filed Dec 1, 1982, 10:35 am: 6 IR 62; filed Aug 6, 1987, 4:30 pm: 10 IR 2642)

Disclaimer. This may not be the most current version of this information. Users should consult official sources to verify information on this site is recent and current. Marble does not warrant or represent the accuracy, completeness or reliability of the information contained on this site.