Sec. 6. Interest income and other receipts from commercial loans and installment obligations not secured by real or tangible personal property must be attributed to Indiana if the proceeds of the loan are to be applied in Indiana. If it cannot be determined where the funds are to be applied, the income and receipts are attributed to the state in which the business applied for the loan. As used in this section, "applied for" means initial inquiry (including customer assistance in preparing the loan application) or submission of a completed loan application, whichever occurs first.
As added by P.L.347-1989(ss), SEC.1.
Structure Indiana Code
Article 5.5. Taxation of Financial Institutions
Chapter 4. Rules for Attributing Receipts
6-5.5-4-1. Application of Chapter
6-5.5-4-3. Lease or Rental of Real or Tangible Personal Property
6-5.5-4-4. Secured Loans or Installment Sales Contracts; Interest Income and Other Receipts
6-5.5-4-5. Unsecured Consumer Loans; Interest Income and Other Receipts
6-5.5-4-8. Credit Cards; Apportionment of Service Charges, Interest Income, and Fees
6-5.5-4-9. Receipts From Sale of Assets; Apportionment
6-5.5-4-10. Receipts From Performance of Fiduciary and Other Services; Apportionment
6-5.5-4-11. Receipts From Traveler's Checks, Money Orders, or Savings Bonds
6-5.5-4-12. Receipts From Investments of Financial Institution in State Securities
6-5.5-4-13. Participation Loans; Apportionment of Interest Income and Other Receipts