Indiana Code — Title 6 (Taxation)
IC 6-5.5-5-1
Members of unitary business; combined returns; fair
representation of taxpayer income within state;
reapportionment
Sec. 1. (a) Except as provided in this section, a unitary group consisting of at least two
(2) taxpayers shall file a combined return covering all the operations of the unitary business and including all of the members of the unitary business. However, only one (1) combined return needs to be filed, as provided in IC 6-5.5-6-1.
(b) If the department or taxpayer determines that the result of applying this section or article do not fairly represent the taxpayer's income within Indiana or the taxpayer's income within Indiana may be more fairly represented by a separate return, the taxpayer may petition for and the department may allow, or the department may require, in respect to all or a part of the taxpayer's business activity any of the following:
# (1)
Separate accounting.
# (2)
The filing of a separate return for the taxpayer.
# (3)
A reallocation of tax items between a taxpayer and a member of the taxpayer's unitary group or an entity that would be a member of a taxpayer's unitary group if it were transacting business in Indiana.
For purposes of this subsection, "tax items" means gross income, deductions, gains, losses, and credits used in computing the tax under this article, except the term shall exclude dividends or other distributions regardless of whether the amounts are deductible or taxable in computing taxable income under the Internal Revenue Code.
(c) Income apportioned under this article must reflect a change in adjusted gross income that is required to comply with a department order under this section.
As added by P.L.347-1989(ss), SEC.1. Amended by P.L.21-1990, SEC.30; P.L.68-1991, SEC.13; P.L.1-2023, SEC.17.
Amendment history
As added by P.L.347-1989(ss), SEC.1. Amended by P.L.21-1990, SEC.30; P.L.68-1991, SEC.13; P.L.1-2023, SEC.17.
Source: view the official text
Nearby sections (25 sections)
- 6-5.5-4-4 · Secured loans or installment sales contracts; interest…
- 6-5.5-4-5 · Unsecured consumer loans; interest income and other receipts
- 6-5.5-4-6 · Unsecured commercial loans or installment obligations;
- 6-5.5-4-7 · Fee income and other receipts from letters of credit,
- 6-5.5-4-8 · Credit cards; apportionment of service charges, interest
- 6-5.5-4-9 · Receipts from sale of assets; apportionment
- 6-5.5-4-10 · Receipts from performance of fiduciary and other services;
- 6-5.5-4-11 · Receipts from traveler's checks, money orders, or savings
- 6-5.5-4-12 · Receipts from investments of financial institution in state
- 6-5.5-4-13 · Participation loans; apportionment of interest income and
- 6-5.5-4-14 · Repealed
- 6-5.5-4-15 · Repealed
- 6-5.5-5-1 · Members of unitary business; combined returns; fair
- 6-5.5-5-2 · Members of unitary group; combined returns
- 6-5.5-5-3 · Information or records required
- 6-5.5-6-1 · Annual returns required
- 6-5.5-6-2 · Time for filing returns; extensions
- 6-5.5-6-3 · Quarterly estimated tax; quarterly payment by electronic…
- 6-5.5-6-4 · Payment of tax
- 6-5.5-6-5 · Certified copy of return
- 6-5.5-6-6 · Alteration or modification of return; notice; form; time;
- 6-5.5-6-7 · Forms; certification of truth of information
- 6-5.5-6-8 · Transfer of property; liability for tax
- 6-5.5-6-9 · Preservation of records; examination
- 6-5.5-7-1 · Failure to make payment; underpayments; estimated payments