Events not considered transacting business in state
Sec. 8. Notwithstanding any other provision of this chapter, a
taxpayer, except for a trust company formed under IC 28-1-4, is not
considered to be transacting business in Indiana if the only activities
of the taxpayer in Indiana are or are in connection with any of the
following:
(1) Maintaining or defending an action or suit.
(2) Filing, modifying, renewing, extending, or transferring a
mortgage, deed of trust, or security interest.
(3) Acquiring, foreclosing, or otherwise conveying property in
Indiana as a result of a default under the terms of a mortgage,
deed of trust, or other security instrument relating to the
property.
(4) Selling tangible personal property, if taxation under this
article is precluded by 15 U.S.C. 381 through 384.
(5) Owning an interest in the following types of property,
including those activities within Indiana that are reasonably
required to evaluate and complete the acquisition or disposition
of the property, the servicing of the property or the income from
the property, the collection of income from the property, or the
acquisition or liquidation of collateral relating to the property:
(A) An interest in a real estate mortgage investment conduit,
a real estate investment trust, or a regulated investment
company (as those terms are defined in the Internal Revenue
Code).
(B) An interest in a loan backed security representing
ownership or participation in a pool of promissory notes or
certificates of interest that provide for payments in relation
to payments or reasonable projections of payments on the
notes or certificates.
(C) An interest in a loan or other asset from which the
interest is attributed in IC 6-5.5-4-4, IC 6-5.5-4-5, and
IC 6-5.5-4-6 and in which the payment obligations were
solicited and entered into by a person that is independent and
not acting on behalf of the owner.
(D) An interest in the right to service or collect income from
a loan or other asset from which interest on the loan or other
asset is attributed in IC 6-5.5-4-4, IC 6-5.5-4-5, and
IC 6-5.5-4-6 and in which the payment obligations were
solicited and entered into by a person that is independent and
not acting on behalf of the owner.
(E) An amount held in an escrow or a trust account with
respect to property described in this subdivision.
(6) Acting:
(A) as an executor of an estate;
(B) as a trustee of a benefit plan;
(C) as a trustee of an employees' pension, profit sharing, or
other retirement plan;
(D) as a trustee of a testamentary or inter vivos trust or
corporate indenture; or
(E) in any other fiduciary capacity, including holding title to
real property in Indiana.
As added by P.L.347-1989(ss), SEC.1. Amended by P.L.68-1991,
SEC.11.
Last modified: May 28, 2006