Title 6, TITLE 6. TAXATION
297 chapters · 4,481 sections in this title.
Ind. Code § 6-3.1-38.3-1 "Pass through entity"
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Effective 1-1-2024. Sec. 1. 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 trust; (4) an estate; (5) a limited liability company; or (6) a limited liability …
Ind. Code § 6-3.1-38.3-10 Report
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Effective 1-1-2024. Sec. 10. The tax credit under this chapter shall be include in the legislative services agency's tax expenditure report in 2026. As added by P.L.236-2023, SEC.68.
Ind. Code § 6-3.1-38.3-11 Expiration of chapter
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Effective 1-1-2024. Sec. 11. This chapter expires December 31, 2028. As added by P.L.236-2023, SEC.68.
Ind. Code § 6-3.1-38.3-2 "State tax liability"
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Effective 1-1-2024. Sec. 2. As used in this chapter, "state tax liability" means the taxpayer's total tax liability that is incurred under: (1) IC 6-3-1 through IC 6-3-7 (the adjusted gross income tax); (2) IC 27-1-18-2 (the insurance premiums tax) or IC 6-8-15 (the nonprofit agr…
Ind. Code § 6-3.1-38.3-3 Credit
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Effective 1-1-2024. Sec. 3. (a) Except as provided in subsections (b) and (c), and subject to section 4 of this chapter, a taxpayer that employs an individual who: (1) is referred to the employer for employment through a vocational rehabilitation services program for individuals …
Ind. Code § 6-3.1-38.3-4 Eligibility requirements
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Effective 1-1-2024. Sec. 4. To be eligible for the credit under this chapter, a taxpayer must employ an individual described in section 3(a) of this chapter who works at least an average of twenty (20) hours per week for the employer in a similar setting and at a rate that is com…
Ind. Code § 6-3.1-38.3-5 Computation of credit amount; certain taxpayers
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Effective 1-1-2024. Sec. 5. (a) This section applies to a taxpayer that satisfies the following requirements: (1) The taxpayer is a benefit corporation (as defined in IC 23-1.3-2-3). (2) The taxpayer employs not more than fifty (50) individuals. (3) The majority of the taxpayer's…
Ind. Code § 6-3.1-38.3-6 Computation of credit amount; certain taxpayers
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Effective 1-1-2024. Sec. 6. (a) This section applies to a taxpayer that does not meet the requirements under section 5(a) of this chapter and employees five hundred (500) or less total employees. (b) The amount of the tax credit is determined according to the following: (1) In th…
Ind. Code § 6-3.1-38.3-7 Pass through entity; shareholder, partner, or member
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Effective 1-1-2024. Sec. 7. If a pass through entity is entitled to a credit under this chapter but does not have state tax liability against which the tax credit may be applied, an individual who is a shareholder, partner, beneficiary, or member of the pass through entity is ent…
Ind. Code § 6-3.1-38.3-8 Claiming of credit on state tax return
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Effective 1-1-2024. Sec. 8. In order to receive the credit provided under this chapter, a taxpayer must claim the credit on the taxpayer's annual state tax return in the manner prescribed by the department. The taxpayer shall submit to the department any information that the depa…
Ind. Code § 6-3.1-38.3-9 Credit carryover
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Effective 1-1-2024. Sec. 9. (a) If the amount of the credit determined under section 5 or 6 of this chapter, as applicable, for a taxpayer in a taxable year exceeds the taxpayer's state tax liability for that taxable year, the taxpayer may carry the excess credit over for a perio…