Interest income, discounts, and receipts attributable to state
Sec. 2.2. (a) Interest income and other receipts from assets in the
nature of loans or installment sales contracts that are primarily
secured by or deal with real or tangible personal property are
attributable to this state if the security or sale property is located in
Indiana.
(b) Interest income and other receipts from consumer loans not
secured by real or tangible personal property are attributable to this
state if the loan is made to a resident of Indiana, whether at a place
of business, by a traveling loan officer, by mail, by telephone, or by
other electronic means.
(c) Interest income and other receipts from commercial loans and
installment obligations not secured by real or tangible personal
property are attributable to this state 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 attributable 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.
(d) Interest income, merchant discount, and other receipts
including service charges from financial institution credit card and
travel and entertainment credit card receivables and credit card
holders' fees are attributable to the state to which the card charges
and fees are regularly billed.
(e) Receipts from the performance of fiduciary and other services
are attributable to the state in which the benefits of the services are
consumed. If the benefits are consumed in more than one (1) state,
the receipts from those benefits are attributable to this state on a pro
rata basis according to the portion of the benefits consumed in
Indiana.
(f) Receipts from the issuance of traveler's checks, money orders,
or United States savings bonds are attributable to the state in which
the traveler's checks, money orders, or bonds are purchased.
(g) Receipts in the form of dividends from investments are
attributable to this state if the taxpayer's commercial domicile is in
Indiana.
As added by P.L.347-1989(ss), SEC.7.
Last modified: May 28, 2006