Example: The monthly value of the taxpayer's property was as follows:
values if such method of averaging is required to properly reflect the average value of the taxpayer's property for the income period. Averaging by monthly values will generally be applied if there is substantial fluctuation in the value of the property during the income period or where property is acquired after the beginning of the income period or disposed of before the end of the income period.
The average value of the taxpayer's property includible in the property factor for the income year is determined as follows:
$120,000/12 = $10,000
Averaging with respect to rented property is achieved automatically by the method of determining the net annual rental rate of such property as set forth in subsection (1) (d)
General. The payroll factor of the apportionment formula shall include the total amount paid by the taxpayer in the regular course of its trade or business for compensation during the tax period except that to the extent that compensation is paid to employees in connection with the production of receipts, net income, gains or losses taken as an adjustment to net income (or loss), such compensation shall be excluded from the payroll factor. The payroll factor shall not include compensation paid to employees in connection with the production of nonbusiness income. Compensation paid to employees working both in the regular course of taxpayer's trade or business and in the production of nonbusiness income shall be included in the factor only to the extent the compensation is paid for work performed in the regular course of taxpayer's trade or business. Example (1): The taxpayer uses some of its employees in the construction of a storage building which, upon completion, is used in the regular course of