50 Ind. Admin. Code 5.1-1-13

Current through May 29, 2024

Section 50 IAC 5.1-1-13 - "Leased property" defined

Authority: IC 6-1.1-8-42; IC 6-1.1-31-1

Affected: IC 6-1.1-8-2

Sec. 13.

"Leased property" means property that is leased, rented, or otherwise made available to a person other than the owner under a bailment agreement, written or unwritten. The term does not include locally assessed real property, inventory, special tooling, or returnable containers. Leased property may include:

(1) business machines;

(2) postage meters;

(3) machinery;

(4) equipment;

(5) furniture;

(6) fixtures;

(7) coin-operated devices;

(8) tools;

(9) burglar alarms;

(10) signs and other advertising devices;

(11) motor vehicles; and

(12) any other property used in the course or conduct of business; which are loaned, leased, used, or otherwise held in the possession of a person other than the owner on the assessment date whether or not any fees are charged.

50 IAC 5.1-1-13

Department of Local Government Finance; 50 IAC 5.1-1-13; filed Dec 15, 1993, 5:00 p.m.: 17 IR 951; reinstated by IC 6-1.1-8-44, eff Jul 1, 2003

Filed 11/2/2020, 9:34 a.m.: 20201202-IR-050190636FRA