Section 50 IAC 22-3-2 - Personal property eligibleAuthority: IC 6-1.1-12.4-13
Affected: IC 6-1.1-12.4-3
Sec. 2.
(a) In order to be eligible for the investment deduction: (1) personal property must meet the requirements of IC 6-1.1-12.4-3; and(2) the personal property owner must claim the investment deduction on a timely filed: (B) amended; personal property tax return.(b) For purposes of the limitation of the investment deduction to two million dollars ($2,000,000) in assessed value for personal property for the assessment year, a personal property owner is limited to a total two million dollar ($2,000,000) deduction in assessed value for all eligible personal property owned within the county. The two million dollar ($2,000,000) in assessed value limitation of the investment deduction shall not be applied individually to each personal property return filed in the county by the personal property owner.Department of Local Government Finance; 50 IAC 22-3-2; filed Jun 15, 2006, 11:25 a.m.: 20060712-IR-050050144FRA