Statutes, codes, and regulations
Indiana Administrative Code
Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCEArticle 4.2 - ASSESSMENT OF TANGIBLE PERSONAL PROPERTY
Rule 50 IAC 4.2-11.1 - Deductions and Exemptions for Business Personal Property
Section 50 IAC 4.2-11.1-5 - Waiver of exemption

50 Ind. Admin. Code 4.2-11.1-5

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Current through May 29, 2024
Section 50 IAC 4.2-11.1-5 - Waiver of exemption

Authority: IC 6-1.1-31-1

Affected: IC 6-1.1-11-1

Sec. 5.

An exemption is a privilege which may be waived by a person who owns property that would qualify for the exemption. If the owner does not comply with the statutory procedures for obtaining an exemption, it waives the exemption. If the exemption is waived, the property is subject to taxation (IC 6-1.1-11-1 ).

50 IAC 4.2-11.1-5

Department of Local Government Finance; 50 IAC 4.2-11.1-5; filed Feb 26, 2010, 2:43 p.m.: 20100324-IR-050090576FRA