Title 6, TITLE 6. TAXATION
297 chapters · 4,481 sections in this title.
Ind. Code § 6-3.1-17.1-1 Applicability of chapter
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Effective 1-1-2024. Sec. 1. This chapter applies to taxable years beginning after December 31, 2023. As added by P.L.236-2023, SEC.67.
Ind. Code § 6-3.1-17.1-10 Carryover of unused credit amount
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Effective 1-1-2024. Sec. 10. (a) If the credit provided by this chapter exceeds a qualified taxpayer's state tax liability for the taxable year for which the credit is first claimed, the excess may be carried over to succeeding taxable years and used as a credit against the tax o…
Ind. Code § 6-3.1-17.1-11 Credit assignment
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Effective 1-1-2024. Sec. 11. (a) A qualified taxpayer may assign any part of the credit that the qualified taxpayer may claim under this chapter. A credit that is assigned under this section remains subject to this chapter. If a qualified taxpayer assigns a part of a credit durin…
Ind. Code § 6-3.1-17.1-12 Annual aggregate credit limit
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Effective 1-1-2024. Sec. 12. For each state fiscal year beginning after June 30, 2023, and ending before July 1, 2030, the aggregate amount of state tax credits allowed under this chapter may not exceed ten million dollars ($10,000,000). As added by P.L.236-2023, SEC.67.
Ind. Code § 6-3.1-17.1-13 Credit included in calculation of aggregate tax credits that may
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be certified by the Indiana economic development corporation Effective 1-1-2024. Sec. 13. Any credit awarded under this chapter must be included in the calculation of the aggregate amount of applicable tax credits that the Indiana economic development corporation may certify for …
Ind. Code § 6-3.1-17.1-15 Expiration of chapter
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Effective 1-1-2024. Sec. 15. This chapter expires January 1, 2030. As added by P.L.236-2023, SEC.67.
Ind. Code § 6-3.1-17.1-2 "Pass through entity"
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Effective 1-1-2024. Sec. 2. As used in this chapter, "pass through entity" means: (1) a corporation that is exempt from the adjusted gross income tax under IC 6-3-2-2.8(2); (2) a partnership; (3) a limited liability company; or (4) a limited liability partnership. As added by P.L…
Ind. Code § 6-3.1-17.1-3 "Qualified historic structure"
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Effective 1-1-2024. Sec. 3. As used in this chapter, "qualified historic structure" means any building that is: (1) a certified historic structure (as defined in Section 47(c)(3) of the Internal Revenue Code); (2) individually listed on the register of Indiana historic sites and …
Ind. Code § 6-3.1-17.1-4 "Qualified rehabilitation expenditure"
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Effective 1-1-2024. Sec. 4. As used in this chapter, "qualified rehabilitation expenditure" means the costs and expenses incurred by a qualified taxpayer in the restoration and preservation of a qualified historic structure that are defined as a qualified rehabilitation expenditu…
Ind. Code § 6-3.1-17.1-5 "Qualified taxpayer"
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Effective 1-1-2024. Sec. 5. As used in this chapter, "qualified taxpayer" means the owner of a qualified historic structure or any other person who may qualify for the federal rehabilitation tax credit allowable under Section 47 of the Internal Revenue Code. As added by P.L.236-2…
Ind. Code § 6-3.1-17.1-6 "State tax liability"
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Effective 1-1-2024. Sec. 6. As used in this chapter, "state tax liability" means a taxpayer's total tax liability incurred under IC 6-3-1 through IC 6-3-7 (the adjusted gross income tax), as computed after the application of all credits that under IC 6-3.1-1-2 are to be applied b…
Ind. Code § 6-3.1-17.1-7 Amount of credit; computation
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Effective 1-1-2024. Sec. 7. (a) Subject to IC 5-28-6-9, the Indiana economic development corporation may award a credit to a qualified taxpayer against the qualified taxpayer's state tax liability in the taxable year in which the qualified taxpayer completes restoration and prese…
Ind. Code § 6-3.1-17.1-8 Pass through entity; shareholder; partner; or member
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Effective 1-1-2024. Sec. 8. (a) If a pass through entity is awarded a credit under section 7 of this chapter but does not have state tax liability against which the credit may be applied, a shareholder, partner, or member of the pass through entity may receive a credit equal to: …
Ind. Code § 6-3.1-17.1-9 Claiming of credit on annual state tax return
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Effective 1-1-2024. Sec. 9. To obtain a credit under this chapter, a qualified taxpayer must claim the credit on the qualified taxpayer's annual state tax return or returns in the manner prescribed by the department. The qualified taxpayer shall submit to the department all infor…