(a) Filing of consolidated returns may be permitted or required in accordance with rules and regulations prescribed by the Administrator.
(b) In the case of a corporation that carried on transactions with its stockholders or with other corporations related by stock ownership, interlocking directorates, or some other method, or in case any person operates a division, branch, factory, office, laboratory or activity within the Village constituting a portion only of its total business, the Administrator shall require such additional information as he or she may deem necessary to ascertain whether net profits are properly allocated to the Village. If the Administrator finds that net profits are not properly allocated to the Village by reason of transactions with stockholders or with other corporations related by stock ownership, interlocking directorates, or transactions with such division, branch, factory, office, laboratory or activity, or by some other method, he or she shall make allocations as he or she deems appropriate to produce a fair and proper allocation of net profits to the Village.
(Ord. 53-68. Passed 9-3-68.)