Companies within and partially outside state; tax determinations
Sec. 4. (a) If a public utility company operates a system partially
within and partially without this state, the company's property which
is subject to taxation under this chapter is:
(1) that property which has a definite situs in this state; and
(2) that property which does not have a definite situs either in
this state or in any other state and which the department of local
government finance determines is taxable in this state.
(b) To determine the value of an interstate public utility
company's property which does not have a definite situs either in this
state or in any other state and which is taxable in this state, the
department of local government finance shall consider the value of
all the company's property which does not have a definite situs and
shall allocate a reasonable portion of that property to this state. The
department of local government finance shall make the allocation in
a manner which is fair to both the state and the company.
(Formerly: Acts 1975, P.L.47, SEC.1.) As amended by Acts 1977,
P.L.2, SEC.11; P.L.90-2002, SEC.57.
Last modified: May 28, 2006