Section 50 IAC 10-3-2 - Filing procedures for the deduction for new eligible equipmentAuthority: IC 6-1.1-12.1-13; IC 6-1.1-31-1
Affected: IC 6-1.1-3-7; IC 6-1.1-12.1
Sec. 2.
(a) A person who desires to obtain the economic revitalization area deduction for new eligible equipment must file a certified deduction application on forms prescribed by the department, in duplicate, with the auditor of the county in which the new eligible equipment is located. A person who timely files a personal property return under IC 6-1.1-3-7(a) for the year in which the new eligible equipment is installed must file the application between January 1 and May 15 of that year. A person who obtains a filing extension under IC 6-1.1-3-7(b) for the year in which the new eligible equipment is installed must file the application as an attachment to the person's personal property return not later than the extended due date.(b) The department has prescribed Form 103-ERA, Schedule of Deduction from Assessed Valuation Personal Property in Economic Revitalization Area State Form 52503), as the form on which the economic revitalization area deduction for the installation of new eligible equipment.(c) A deduction application for new eligible equipment must be filed under this section in the year in which the new eligible equipment is installed.Department of Local Government Finance; 50 IAC 10-3-2; filed Feb 8, 1996, 5:30 p.m.: 19 IR 1298; filed Dec 21, 2000, 2:11 p.m.: 24 IR 1306Filed 11/2/2020, 9:34 a.m.: 20201202-IR-050190636FRA