Ind. Admin. Code tit. 45, § 3.1-1-56 - Allocation of Nonbusiness Income

Current as of January 1, 1970
45 Iac 3.1-1-56 - Allocation of Nonbusiness Income
45 Iac 3.1-1-55.5 - Definitions; Attribution of Sales to State45 Iac 3.1-1-57 - Rents and Royalties From Real Property and Tangible Personal Property as Nonbusiness Income

45 IAC 3.1-1-56 Allocation of nonbusiness income

Authority: IC 6-8.1-3-3

Affected: IC 6-3-2-2

Sec. 56. Allocation of Nonbusiness Income. Rents, royalties, capital gains, interest and dividends when considered nonbusiness income are allocated to specific jurisdictions as outlined in Regulations 6-3-2-2(h) through 6-3-2-2(k) 45IAC3.1−1−57–45IAC3.1−1−6145 IAC 3.1-1-57–45 IAC 3.1-1-61. Such income and the deductions connected therewith are not taken into consideration in computing the taxpayer's apportionment formula. When the taxpayer has deductions applicable to both business and nonbusiness income, such deductions must be prorated to determine what part is subject to allocation.

(Department of State Revenue; Reg 6-3-2-2(g)(010); filed Oct 15, 1979, 11:15 am: 2 IR 1530; errata, 2 IR 1743)

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