Section 50IAC4.2-1-6. Administrative adjudications by the department; effect

   (a) The department may, at its discretion, issue an administrative adjudication determination on the ad valorem tax consequences of a taxpayer's proposed transaction or unusual circumstances prior to the filing date of May 15 for the assessment year in question. If the taxpayer has received an extension for filing from the assessor, the date shown in the assessor's letter of extension will be the date used in this section. This administrative adjudication determination will be effective only for the tax year designated in the determination.

  (b) The taxpayer should make a written request not later than March 31 of the assessment year in question stating all the facts and circumstances that affect the transaction on which a determination is requested.

  (c) The administrative adjudication determination as issued by the department will be in writing and executed by the department.

  (d) Reliance. The taxpayer may rely upon the administrative adjudication determination for the tax year designated. The administrative adjudication determination as granted is conditioned upon the following:

(1) That the facts and circumstances as submitted by the taxpayer are representative of the facts and circumstances that actually exist.

(2) That all of the facts and circumstances related to the transaction have been disclosed to the department.

(Department of Local Government Finance; 50 IAC 4.2-1-6; filed Dec 7, 1988, 9:35 a.m.: 12 IR 821, eff Mar 1, 1989; reinstated by IC 6-1.1-3-22, eff Jul 1, 2003; filed Feb 26, 2010, 2:43 p.m.: 20100324-IR-050090576FRA)