Section 6-3.6-8-2 - Tax liability; determination when tax is not in effect during entire taxable yearIf the tax is not in effect during a local taxpayer's entire taxable year, the amount of tax that the local taxpayer owes for that taxable year equals the product of:
(1) the amount of tax the local taxpayer would owe if the tax had been imposed during the local taxpayer's entire taxable year; multiplied by(2) a fraction equal to: (A) the number of days in the local taxpayer's taxable year during which the tax was in effect; divided by(B) the total number of days in the local taxpayer's taxable year. However, if the taxpayer files state income tax returns on a calendar year basis, the fraction to be applied under this section is one-half (1/2).
Added by P.L. 243-2015, SEC. 10, eff. 7/1/2015.