Indiana Code — Title 6 (Taxation)
IC 6-5.5-1-21
"Loans arising in factoring"
Official textiga.in.govlast amended
Sec. 21. (a) "Loans arising in factoring" means:
# (1)
a loan or extension of credit secured by one (1) or more accounts receivable; or
# (2)
a sale of one (1) or more accounts receivable in which the purchaser has recourse against the seller for an uncollected accounts receivable.
(b) The term does not refer to:
(1) a sale of one (1) or more accounts receivable without recourse; or
(2) an assignment of an account receivable.
As added by P.L.146-2020, SEC.31.
Amendment history
As added by P.L.146-2020, SEC.31.
Source: view the official text
Nearby sections (25 sections)
- 6-5.5-1-9 · "Foreign bank"
- 6-5.5-1-10 · "Gross income"
- 6-5.5-1-11 · "Internal Revenue Code"
- 6-5.5-1-12 · "Nonresident taxpayer"
- 6-5.5-1-13 · "Resident taxpayer"
- 6-5.5-1-14 · "Subsidiary"
- 6-5.5-1-15 · "Taxable year"
- 6-5.5-1-16 · "Taxing jurisdiction"
- 6-5.5-1-17 · "Taxpayer"
- 6-5.5-1-18 · "Unitary business"
- 6-5.5-1-19 · "Partnership"
- 6-5.5-1-20 · "Bonus depreciation"
- 6-5.5-1-21 · "Loans arising in factoring"
- 6-5.5-2-1 · Computation of franchise tax
- 6-5.5-2-2 · Repealed
- 6-5.5-2-3 · Apportioned income of taxpayer not filing combined return
- 6-5.5-2-4 · Apportioned income of taxpayer filing combined return for
- 6-5.5-2-5 · Repealed
- 6-5.5-2-5.3 · Repealed
- 6-5.5-2-6 · Credit for nonresident taxpayer
- 6-5.5-2-7 · Exemptions
- 6-5.5-2-8 · Partnerships; grantor or beneficiary of a trust; information
- 6-5.5-3-1 · Transacting business within state
- 6-5.5-3-2 · Maintains office
- 6-5.5-3-3 · Conducting business