Apportionment of business income by corporations

Authority: IC 6-8.1-3-3

Affected: IC 6-3-2-2

Sec. 39. Apportionment of Business Income. All corporations subject to the allocation and apportionment provisions of IC 6-3-2-2 (b)-(n) shall apportion their business income by use of the 3-factor formula described below, unless the taxpayer obtains a ruling which permits, or the Department requires, the use of a different formula which more fairly reflects its income from Indiana sources. See IC 6-3-2-2 (1). The 3-factor formula is as follows: