45 Ind. Admin. Code 3.1-1-56
Current through December 12, 2024
Authority: IC 6-8.1-3-3
Affected: IC 6-3-2-2
Sec. 56.
Allocation of Nonbusiness Income. Rents, royalties, capital gains, interest and dividends when considered nonbusiness income are allocated to specific jurisdictions as outlined in Regulations 6-3-2-2(h) through 6-3-2-2(k) [ 45 IAC 3.1-1-57-45 IAC 3.1-1-61 ]. Such income and the deductions connected therewith are not taken into consideration in computing the taxpayer's apportionment formula. W hen the taxpayer has deductions applicable to both business and nonbusiness income, such deductions mus t be prorated to determine what part is subject to allocation.
45 IAC 3.1-1-56