§ 44-1-15 - Destruction of obsolete records – Preservation of corporate returns.
SECTION 44-1-15
§ 44-1-15 Destruction of obsolete records– Preservation of corporate returns. – The tax administrator is authorized and empowered, in his or her discretion, todestroy tax returns, duplicate records, correspondence, and other papers anddocuments on file in the office of the administrator, relating to theassessment of taxes under this chapter, which bear a date not later than three(3) years prior to the date of the exercise of the authority granted by thissection, except the records relating to public service corporations; provided,that the tax administrator has compiled in durable form as a part of his or herpermanent records, all the essential information contained in any corporationtax returns destroyed under the provisions of this section pertaining to issuedcapital, dividends, value of shares returned, bonded and other indebtedness,total corporate value, corporate value in this state, basis of apportionment,exempt property, estimated value of physical property within and without thisstate, gross receipts, and in the case of public service corporations grossearnings returned, and in the case of banks, trust companies, and nationalbanking associations the fair cash value of physical property and the names ofshareholders whose shares are exempt from taxation.