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State Tax Matters. Issue 2006-32. Income/Franchise Tax. Indiana – Emergency Rule on New “Anti-PIC” Intangible Expense Addback Law. LSA Document #06-244(E), Ind. Dept. of Rev. (7/18/06). The department has issued an emergency rule to implement the state’s new “Anti-PIC” intangible/interest expense addback law [H.B. 1001], which requires the add back of certain intangible expenses and directly related intangible interest expenses for purposes of computing the state adjusted gross income tax. The new law became effective July 1, 2006
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