Statutes, codes, and regulations
Indiana Administrative Code
Title 50 - DEPARTMENT OF LOCAL GOVERNMENT FINANCEArticle 4.2 - ASSESSMENT OF TANGIBLE PERSONAL PROPERTY
Rule 50 IAC 4.2-9 - Obsolescence
Section 50 IAC 4.2-9-5 - Full disclosure

50 Ind. Admin. Code 4.2-9-5

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Current through May 29, 2024
Section 50 IAC 4.2-9-5 - Full disclosure

Authority: IC 6-1.1-31-1

Affected: IC 6-1.1-31-7

Sec. 5.

When the reporting requirements for an adjustment for abnormal obsolescence have been met (a full disclosure), but for some reason the adjustment is not allowed or the value is changed, the amount disallowed is considered to be an interpretive difference and is not subject to the undervalued personal property tax penalty as set forth in 50 IAC 4.2-2-10(d).

50 IAC 4.2-9-5

Department of Local Government Finance; 50 IAC 4.2-9-5; filed Dec 7, 1988, 9:35 a.m.: 12 IR 864, eff Mar 1, 1989; reinstated by IC 6-1.1-3-22, eff Jul 1, 2003