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Indiana Code — Title 6 (Taxation)

IC 6-5.5-4-2

Definitions

Official textiga.in.govlast amended

Sec. 2. For purposes of computing receipts or the receipts factor under this article the following apply:

# (1)

"Receipts" means gross income (as defined in IC 6-5.5-1-10), plus the gross income excluded under Section 103 of the Internal Revenue Code, less gross income derived from sources outside the United States. However, upon the disposition of assets such as securities and money market transactions, when derived from transactions and activities in the regular course of the taxpayer's trade or business, receipts are limited to the gain (as defined in Section 1001 of the Internal Revenue Code) that is recognized upon the disposition.

# (2)

"Money market instruments" means federal funds sold and securities purchased under agreements to resell, commercial paper, banker's acceptances, and purchased certificates of deposit and similar instruments.

# (3)

"Securities" means United States Treasury securities, obligations of United States government agencies and corporations, obligations of state and political subdivisions, corporate stock and other securities, participations in securities backed by mortgages held by United States or state government agencies, loan backed securities and similar investments.
As added by P.L.347-1989(ss), SEC.1. Amended by P.L.21-1990, SEC.29; P.L.68-1991, SEC.12.

Amendment history

As added by P.L.347-1989(ss), SEC.1. Amended by P.L.21-1990, SEC.29; P.L.68-1991, SEC.12.

Source: view the official text

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Nearby sections (25 sections)
  1. 6-5.5-2-6 · Credit for nonresident taxpayer
  2. 6-5.5-2-7 · Exemptions
  3. 6-5.5-2-8 · Partnerships; grantor or beneficiary of a trust; information
  4. 6-5.5-3-1 · Transacting business within state
  5. 6-5.5-3-2 · Maintains office
  6. 6-5.5-3-3 · Conducting business
  7. 6-5.5-3-4 · Regularly solicit business; presumption
  8. 6-5.5-3-5 · Tangible assets, intangible assets, and deposits…
  9. 6-5.5-3-6 · Tangible property; located in state
  10. 6-5.5-3-7 · Moving property; located in state
  11. 6-5.5-3-8 · Events not considered transacting business in state
  12. 6-5.5-4-1 · Application of chapter
  13. 6-5.5-4-2 · Definitions
  14. 6-5.5-4-3 · Lease or rental of real or tangible personal property
  15. 6-5.5-4-4 · Secured loans or installment sales contracts; interest…
  16. 6-5.5-4-5 · Unsecured consumer loans; interest income and other receipts
  17. 6-5.5-4-6 · Unsecured commercial loans or installment obligations;
  18. 6-5.5-4-7 · Fee income and other receipts from letters of credit,
  19. 6-5.5-4-8 · Credit cards; apportionment of service charges, interest
  20. 6-5.5-4-9 · Receipts from sale of assets; apportionment
  21. 6-5.5-4-10 · Receipts from performance of fiduciary and other services;
  22. 6-5.5-4-11 · Receipts from traveler's checks, money orders, or savings
  23. 6-5.5-4-12 · Receipts from investments of financial institution in state
  24. 6-5.5-4-13 · Participation loans; apportionment of interest income and
  25. 6-5.5-4-14 · Repealed
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