Sec. 21. (a) "Loans arising in factoring" means: (1) a loan or extension of credit secured by one (1) or more accounts receivable; or (2) a sale of one (1) or more accounts receivable in which the purchaser has recourse against the seller for an uncollected accounts receivable. (b) The term does not refer to: (1) a sale of one (1) or more accounts receivable without recourse; or (2) an assignment of an account receivable. IC 6-5.5-2 Chapter 2. Imposition of Tax 6-5.5-2-1 Computation of franchise tax 6-5.5-2-2 Repealed 6-5.5-2-3 Apportioned income of taxpayer not filing combined return 6-5.5-2-4 Apportioned income of taxpayer filing combined return for unitary group 6-5.5-2-5 Repealed 6-5.5-2-5.3 Repealed 6-5.5-2-6 Credit for nonresident taxpayer 6-5.5-2-7 Exemptions 6-5.5-2-8 Partnerships; grantor or beneficiary of a trust; information return; withholding
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