Section 50 IAC 25-2-2 - "Affiliated group" definedAuthority: IC 6-1.1-12.6-9
Affected: IC 6-1.1-12.6-0.5; IC 6-3-1-19
Sec. 2.
"Affiliated group" means any combination of the following in accordance with IC 6-1.1-12.6-0.5:
(1) An affiliated group within the meaning provided in Section 1504 of the Internal Revenue Code except that the ownership percentage in Section 1504(a)(2)of the Internal Revenue Code must be determined using fifty percent (50%) instead of eighty percent (80%) or a relationship described in Section 267(b)(11) of the Internal Revenue Code.(2) Two (2) or more partnerships as defined in IC 6-3-1-19, including limited liability companies and limited liability partnerships that have the same degree of mutual ownership as an affiliated group described in subdivision (1).Department of Local Government Finance; 50 IAC 25-2-2; filed Apr 15, 2009, 10:16 a.m.: 20090513-IR-050080755FRA