Indiana Tax Court August 19, 1992, 49T10-9105-TA-00024 (First National Leasing v. Indiana Department of State Revenue)

FISHER, Judge.

First National Leasing and Financial Corporation (First National) petitions the court to set aside the final determination of the Indiana Department of State Revenue (Department) assessing Indiana gross income tax in the amount of $25,482.97 plus interest and penalties on its rental income received from the lease of equipment to its wholly owned subsidiary, Hulcher Services, Inc.