Tax effective for less than taxable year; calculation
Sec. 8. If the county economic development income tax is not in
effect during a county taxpayer's entire taxable year, then the amount
of county economic development income tax that the county taxpayer
owes for that taxable year equals the product of:
(1) the amount of county economic development income tax the
county taxpayer would owe if the tax had been imposed during
the county taxpayer's entire taxable year; multiplied by
(2) a fraction. The numerator of the fraction equals the number
of days during the county taxpayer's taxable year during which
the county economic development income tax was in effect.
The denominator of the fraction equals three hundred sixty-five
(365).
As added by P.L.380-1987(ss), SEC.6.
Last modified: May 28, 2006