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Elkhart County Auditor

Financial Institution Tax Distributions

IC 6-5.5-2-1 imposes a financial institution tax on the adjusted gross income of any corporation transacting the business of a financial institution, including a holding company, a regulated financial corporation, a subsidiary of a holding company or regulated financial corporation, or any other corporation carrying on the business of a financial institution. Any taxpayer who is subject to tax under IC 6-5.5 is exempt from Indiana's adjusted gross income tax.

A resident taxpayer is a taxpayer who is commercially domiciled in Indiana and transacts the business of a financial institution in Indiana.

A nonresident taxpayer is a taxpayer who is not commercially domiciled in Indiana but transacts the business of a financial institution in this state.

The financial institution tax extends to both resident and nonresident financial institutions and to all other corporate entities when 80% or more of its gross income is derived from activities that constitute the business of a financial institution. The business of a financial institution is defined as activities authorized by the federal reserve board; the making, acquiring, selling, or servicing of loans or extensions of credit; acting as an agent, a broker, or an advisor in connection with leasing real and personal property that is the economic equivalent of an extension of credit; or operating a credit card, debit card, or charge card business.

June 2017

December 2016
June 2016

December 2015
June 2015

Elkhart County Auditor – Pauline Graff

Contact us at the Auditor’s Office
Elkhart County Administration Offices
117 2nd Street,
2nd Floor
Goshen, IN  46526

Auditor: 574- 535-6719
Real Estate: 
574-535-6710

Hours:
Monday 8:00am – 5:00pm
Tuesday - Friday 8:00am – 4:00pm

 
 

Copyright 2015