PARRIS N. GLENDENING, Governor                                 Ch. 127

(IV) IF THE FINANCIAL INSTITUTION ELECTS OR IS REQUIRED BY
THE DEPARTMENT TO USE THE METHOD SET FORTH IN SUBPARAGRAPH (HI) OF
THIS PARAGRAPH, IT SHALL USE THIS METHOD ON ALL SUBSEQUENT RETURNS
UNLESS THE FINANCIAL INSTITUTION RECEIVES PRIOR PERMISSION FROM THE
DEPARTMENT TO USE, OR THE DEPARTMENT REQUIRES A DIFFERENT METHOD.

(V) THE FINANCIAL INSTITUTION SHALL HAVE THE BURDEN OF
PROVING THAT AN INVESTMENT ASSET OR ACTIVITY OR TRADING ASSET OR
ACTIVITY WAS PROPERLY ASSIGNED TO A REGULAR PLACE OF BUSINESS OUTSIDE
OF THIS STATE BY DEMONSTRATING THAT THE DAY TO DAY DECISIONS
REGARDING THE ASSET OR ACTIVITY OCCURRED AT A REGULAR PLACE OF
BUSINESS OUTSIDE THIS STATE. WHERE THE DAY TO DAY DECISIONS REGARDING
AN INVESTMENT ASSET OR ACTIVITY OR TRADING ASSET OR ACTIVITY OCCUR AT
MORE THAN ONE REGULAR PLACE OF BUSINESS AND ONE SUCH REGULAR PLACE
OF BUSINESS IS IN THIS STATE AND ONE SUCH REGULAR PLACE OF BUSINESS IS
OUTSIDE THIS STATE, SUCH ASSET OR ACTIVITY SHALL BE CONSIDERED TO BE
LOCATED AT THE REGULAR PLACE OF BUSINESS OF THE FINANCIAL INSTITUTION
WHERE THE INVESTMENT OR TRADING POLICIES OR GUIDELINES WITH RESPECT TO
THE ASSET OR ACTIVITY ARE ESTABLISHED. UNLESS THE FINANCIAL INSTITUTION
DEMONSTRATES TO THE CONTRARY, SUCH POLICIES AND GUIDELINES SHALL BE
PRESUMED TO BE ESTABLISHED AT THE COMMERCIAL DOMICILE OF THE
FINANCIAL INSTITUTION.

(14) THE NUMERATOR OF THE RECEIPTS FACTOR INCLUDES ALL OTHER
RECEIPTS NOT OTHERWISE APPORTIONED UNDER THIS SUBSECTION IF THE
INCOME PRODUCING ACTIVITY IS PERFORMED IN THIS STATE. IF THE
INCOME PRODUCING ACTIVITY IS PERFORMED BOTH WITHIN THIS STATE AND ONE
OR MORE OTHER STATES, THE RECEIPTS DESCRIBED IN THIS PARAGRAPH ARE
INCLUDED IN THE NUMERATOR OF THE RECEIPTS FACTOR IF MORE THAN 50% OF
THE INCOME PRODUCING ACTIVITY IS PERFORMED WITHIN THIS STATE. IF MORE
THAN 50% OF THE INCOME PRODUCING ACTIVITY IS NOT PERFORMED WITHIN ANY
ONE STATE, THEN THE RECEIPTS DESCRIBED IN THIS PARAGRAPH SHALL BE
INCLUDED IN THE NUMERATOR OF THE RECEIPTS FACTOR IF THE FINANCIAL
INSTITUTION'S COMMERCIAL DOMICILE IS IN THIS STATE.

(15) ALL RECEIPTS WHICH WOULD BE ASSIGNED UNDER THIS
SUBSECTION TO A STATE IN WHICH THE FINANCIAL INSTITUTION IS NOT TAXABLE
SHALL BE INCLUDED IN THE NUMERATOR OF THE RECEIPTS FACTOR, IF THE
FINANCIAL INSTITUTION'S COMMERCIAL DOMICILE IS IN THIS STATE.

(D) (1) THE PROPERTY FACTOR IS A FRACTION, THE NUMERATOR OF
WHICH IS THE AVERAGE VALUE OF REAL PROPERTY AND TANGIBLE PERSONAL
PROPERTY RENTED TO THE FINANCIAL INSTITUTION THAT IS LOCATED OR USED
WITHIN THIS STATE DURING THE TAXABLE YEAR, THE AVERAGE VALUE OF THE
FINANCIAL INSTITUTION REAL AND TANGIBLE PERSONAL PROPERTY OWNED THAT
IS LOCATED OR USED WITHIN THIS STATE DURING THE TAXABLE YEAR, AND THE
AVERAGE VALUE OF THE FINANCIAL INSTITUTION'S LOANS AND CREDIT CARD

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