Indiana Code — Title 6 (Taxation)
IC 6-1.1-8-12
Railcar companies
Sec. 12. (a) The fixed property of a railcar company consists of real property. The remainder of the railcar company's property is indefinite-situs distributable property.
(b) The department of local government finance shall assess a railcar company's indefinite-situs distributable property on the basis of the average number of cars owned or used by the company within this state during the twelve (12) months of the calendar year preceding the year of assessment. The average number of cars within this state equals the product of:
# (1)
the sum of "M" plus "E"; multiplied by
# (2)
a fraction, the numerator of which is "N", and the denominator of which is the number two (2).
"M" equals the mileage traveled by the railcar company's cars in this state divided by the mileage traveled by the company's cars both within and outside this state. "E" equals the earnings generated by the company's cars in this state divided by the earnings generated by the company's cars both within and outside this state. "N" equals the total number of cars owned or used by the company both within and outside this state.
[Pre-1975 Property Tax Recodification Citation: 6-1-44-11(3).]
Formerly: Acts 1975, P.L.47, SEC.1. As amended by Acts 1977, P.L.2, SEC.13;
P.L.78-1987, SEC.1; P.L.90-2002, SEC.63; P.L.182-2009(ss), SEC.98; P.L.38-2021, SEC.10.
Amendment history
Formerly: Acts 1975, P.L.47, SEC.1. As amended by Acts 1977, P.L.2, SEC.13; P.L.78-1987, SEC.1; P.L.90-2002, SEC.63; P.L.182-2009(ss), SEC.98; P.L.38-2021, SEC.10.
Source: view the official text
Nearby sections (25 sections)
- 6-1.1-7-16 · Duty to develop a system for recording property tax
- 6-1.1-8-1 · Property owned or used by public utility company
- 6-1.1-8-2 · Definitions
- 6-1.1-8-3 · Companies subject to taxation; exemptions
- 6-1.1-8-4 · Companies within and partially outside state; tax
- 6-1.1-8-5 · Fixed property; definite-situs distributable property;
- 6-1.1-8-6 · Bridge companies
- 6-1.1-8-7 · Bus companies
- 6-1.1-8-8 · Express companies
- 6-1.1-8-9 · Light, heat, or power companies
- 6-1.1-8-10 · Pipe line companies
- 6-1.1-8-11 · Railroad companies
- 6-1.1-8-12 · Railcar companies
- 6-1.1-8-12.5 · Repealed
- 6-1.1-8-13 · Sleeping car companies
- 6-1.1-8-14 · Street railway companies
- 6-1.1-8-15 · Telephone, telegraph, or cable companies
- 6-1.1-8-16 · Tunnel companies
- 6-1.1-8-17 · Water distribution companies
- 6-1.1-8-18 · Other companies
- 6-1.1-8-19 · Statement of value and description of property; filing…
- 6-1.1-8-19.5 · Assessment of wind power devices; change of ownership;
- 6-1.1-8-20 · Failure to file statement; penalty; action by attorney…
- 6-1.1-8-21 · Copies of various reports; requests from department of…
- 6-1.1-8-22 · Assessment by department of local government finance;