Monarch Steel Co. v. State Board of Tax Commissioners

FISHER, Judge.

Monarch Steel Co., Inc. (Monarch) appeals a final determination of the State Board of Tax Commissioners (the State Board) denying an exemption for Monarch's business personal property for the March 1, 1993, assessment date.

ISSUE

Whether the State Board erred in denying Monarch an inventory exemption.

FACTS AND PROCEDURAL HISTORY 1

Monarch is a steel service center located in East Chicago, Indiana. Monarch purchases steel plates, bars, and coils from manufacturers both inside and outside Indiana, and then resells them to customers both inside and outside Indiana.

Sometimes Monarch…