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42.26.604    THE DENOMINATOR AND NUMERATOR OF THE PROPERTY FACTOR

(1) The denominator of the property factor shall be the average value of all of the taxpayer's real and tangible personal property owned or rented and used during the income year. The numerator of the property factor shall be the average value of the taxpayer's real and tangible personal property owned or rented and used in this state during the income year. In determining the numerator of the property factor, all property except mobile or movable property such as passenger cars, freight cars, locomotives and freight containers which are located within and without this state during the income year shall be included in the numerator of the property factor in accordance with ARM 42.26.234. Mobile or movable property such as passenger cars, freight cars, locomotives and freight containers which are located within and without this state during the income year shall be included in the numerator of the property factor in the ratio which "locomotive-miles" and "car-miles" in the state bear to the total everywhere.

History: Sec. 15-1-201, 15-31-313, and 15-31-501, MCA; IMP, Sec. 15-1-601, 15-31-305, 15-31-306, 15-31-307, and 15-31-312, MCA; NEW, 1982 MAR p. 104, Eff. 1/29/82; TRANS, from 42.26.267 and AMD, 2002 MAR p. 403, Eff. 12/21/01.

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