50 IAC 5.1-6-8 - Deduction for gross additions

Authority: IC 6-1.1-8-42; IC 6-1.1-31-1

Affected: IC 6-1.1-8-26

Sec. 8.

Except as provided in section 9 of this rule, the value of depreciable personal property is computed by deducting an allowance for gross additions in addition to the adjustment for depreciation computed under section 7 of this rule. The deduction for gross additions is computed as:

(1) sixty percent (60%) of the adjusted cost of depreciable personal property placed in service during the immediately preceding twelve (12) months; minus

(2) the depreciation computed on the adjusted cost of depreciable personal property, as computed under section 7 of this rule, placed in service during the immediately preceding twelve (12) months.

Notes

50 IAC 5.1-6-8

Department of Local Government Finance; 50 IAC 5.1-6-8; filed Dec 15, 1993, 5:00 p.m.: 17 IR 962; reinstated by IC 6-1.1-8-44, eff Jul 1, 2003