Indiana Code — Title 6 (Taxation)
IC 6-5.5-5-2
Members of unitary group; combined returns
Sec. 2. A combined return must include the adjusted gross income of all members of the unitary group, even if some of the members would not otherwise be subject to taxation under this article. The department may require a member of a unitary group to provide any information that is needed by the department to determine the unitary group's apportioned income under this article. However, income of corporations or other entities organized in foreign countries, except a foreign bank (or its subsidiary) that transacts business in the United States, shall not be included in the combined return. In calculating adjusted gross income, the taxpayer shall eliminate all income and deductions from transactions between entities that are included in the combined return. In addition, in computing receipts for the apportionment factor under IC 6-5.5-2-4(2), the taxpayer shall eliminate receipts between unitary group members included in the combined return.
As added by P.L.347-1989(ss), SEC.1. Amended by P.L.21-1990, SEC.31; P.L.1-2023, SEC.18.
Amendment history
As added by P.L.347-1989(ss), SEC.1. Amended by P.L.21-1990, SEC.31; P.L.1-2023, SEC.18.
Source: view the official text
Nearby sections (25 sections)
- 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- 6-5.5-4-14 · Repealed
- 6-5.5-4-15 · Repealed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
- 6-5.5-7-2 · Violation of article; violation of preparing or filing…