(a) The filing of consolidated returns may be permitted, required or denied in accordance with the rules and regulations prescribed by the Finance Director.
(b) In the case of a corporation that carries on transactions with its stockholders or with other corporations related by stock ownership, interlocking directorates or some other method, or if any person operates a division, branch, factory, office, laboratory or activity within the Municipality constituting a portion only of its total business, the Finance Director shall require such additional information as he or she may deem necessary to ascertain whether or not net profits are properly apportioned to the Municipality. If the Finance Director finds net profits are not properly apportioned to the Municipality 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 such allocation as he or she deems appropriate to produce a fair and proper apportionment of net profits to the Municipality.
(Res. 29-00. Passed 12-12-00; Ord. 28-04. Passed 11-9-04.)