Monarch Steel Co. v. State of Indiana Tax Commissioners

FISHER, Judge.

STATEMENT OF CASE

Monarch Steel Co., Inc. appeals the final determination of the State Board of Tax Commissioners, which held that a portion of Monarch's inventory ultimately sold to out-of-state customers is not exempt from personal property tax under IC 6-1.1-10-30(b). The assessment date was March 1, 1986.

FACTS AND DECISION

Monarch, an Indiana corporation, was a steel service center which purchased bulk loads of steel from mills located inside and outside of Indiana. Monarch forecasted the needs of its customers and ordered steel so as to be able to respond promptly to its…