Indiana Administrative Code
Title 45 - DEPARTMENT OF STATE REVENUE
Article 2.2 - SALES AND USE TAX
Rule 6 - Returns, Remittances and Refunds
Section 6-9 - Income exclusion ratio
Universal Citation: 45 IN Admin Code 6-9
Current through September 18, 2024
Authority: IC 6-8.1-3-3
Affected: IC 6-2.5
Sec. 9.
In determining the retail merchants tax liability under Regulation 6-2.5-6-7(010) [ 45 IAC 2.2-6-8 ] the retail merchant may exclude from his gross retail income from retail transactions made during a particular reporting period, the amount equal to:
(1) The amount of gross retail income for that reporting period, multiplied by;
(2) The retail merchants "income exclusion ratio" for the tax year which contains the reporting period.
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