Indiana Administrative Code
Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCE
Article 22 - INVESTMENT DEDUCTION
Rule 3 - Property Eligible for the Investment Deduction
Section 3-2 - Personal property eligible
Universal Citation: 50 IN Admin Code 3-2
Current through September 18, 2024
Authority: IC 6-1.1-12.4-13
Affected: IC 6-1.1-12.4-3
Sec. 2.
(a) In order to be eligible for the investment deduction:
(1) personal property must meet the
requirements of IC 6-1.1-12.4-3; and
(2) the personal property owner must claim
the investment deduction on a timely filed:
(A) annual; or
(B) amended; personal property tax
return.
(b) For purposes of the limitation of the investment deduction to two million dollars ($2,000,000) in assessed value for personal property for the assessment year, a personal property owner is limited to a total two million dollar ($2,000,000) deduction in assessed value for all eligible personal property owned within the county. The two million dollar ($2,000,000) in assessed value limitation of the investment deduction shall not be applied individually to each personal property return filed in the county by the personal property owner.
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