Title 6, TITLE 6. TAXATION
297 chapters · 4,481 sections in this title.
Ind. Code § 6-3-2.1-1 Applicability
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Sec. 1. This chapter applies to taxable years beginning after December 31, 2021. As added by P.L.1-2023, SEC.5.
Ind. Code § 6-3-2.1-2 Definitions
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Sec. 2. The following definitions apply throughout this chapter: (1) "Electing entity" means a pass through entity described in IC 6-3-1-35 that is subject to Subchapter K or Subchapter S of the Internal Revenue Code and makes the election under this chapter. (2) "Entity owner" m…
Ind. Code § 6-3-2.1-3 "Authorized person"; pass through entity tax election;
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applicability of election Sec. 3. (a) For purposes of this section, "authorized person" means any individual with the authority from the electing entity to bind the electing entity or sign returns on its behalf. (b) Each taxable year, an authorized person may elect, on behalf of …
Ind. Code § 6-3-2.1-4 Tax imposed; rate; return; treatment of certain tax payments
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by nonelecting pass through entity Sec. 4. (a) A tax shall be imposed on the adjusted gross income of an electing entity for the taxable year of the election. The adjusted gross income of the electing entity shall be the aggregate of the direct owners' share of the electing entit…
Ind. Code § 6-3-2.1-5 Computation of tax; refundable credit; applicability of other
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credits Sec. 5. (a) Each electing entity shall compute each direct owner's share of the tax imposed by section 4 of this chapter and reflect that amount in the form and manner prescribed by the department. (b) Each entity owner shall be entitled to a refundable credit in an amoun…
Ind. Code § 6-3-2.1-6 Exception; estimated tax payments; penalty for underpayment
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Sec. 6. (a) Except as otherwise provided in this section, an electing entity shall be subject to the obligation to make estimated tax payments under this article for the tax imposed under section 4 of this chapter in the same manner as applicable to corporations under IC 6-3-4-4.…