Section 50IAC4.2-2-7. Returns filed in duplicate

   (a) When the assessed value of the personal property declared on all returns filed in a taxing district by a taxpayer is one hundred fifty thousand dollars ($150,000) or more, each return must be filed in duplicate. A legible, reproduced copy will satisfy this requirement.

  (b) Whether or not a taxpayer has filed the return in duplicate, each township assessor, if one exists, must forward to the county assessor, on or before July 31 of each year, a copy of each personal property tax return filed by a taxpayer who has a total assessed valuation declared on all returns filed in a taxing district of one hundred fifty thousand dollars ($150,000) or more.

  (c) Each year, on or before the time prescribed by the department, each township assessor of a county, if any, shall deliver to the county assessor a copy of each business personal property return that the taxpayer is required to file in duplicate and a copy of any supporting data supplied by the taxpayer with the return. Each year, the county assessor shall:

(1) review and may audit the business personal property returns that the taxpayer is required to file in duplicate; and

(2) determine the returns in which the assessment appears to be improper.

(Department of Local Government Finance; 50 IAC 4.2-2-7; filed Dec 7, 1988, 9:35 a.m.: 12 IR 823, 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)