Title 6, TITLE 6. TAXATION
297 chapters · 4,481 sections in this title.
Ind. Code § 6-3.1-39.5-1 "Indiana qualified child care facility"
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Effective 1-1-2024. Sec. 1. As used in this chapter, "Indiana qualified child care facility" means a facility that is: (1) a qualified child care facility (as defined in Section 45F of the Internal Revenue Code); (2) located in Indiana; (3) licensed by the division of family reso…
Ind. Code § 6-3.1-39.5-10 Carry forward of credit
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Effective 1-1-2024. Sec. 10. (a) If the amount of the credit determined under section 8(b) of this chapter 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 period not to exceed t…
Ind. Code § 6-3.1-39.5-11 Claiming a credit
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Effective 1-1-2024. Sec. 11. To obtain a credit 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 all information that the department determines is…
Ind. Code § 6-3.1-39.5-12 Payment of recapture amount; change of ownership
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Effective 1-1-2024. Sec. 12. (a) If a recapture event occurs with respect to an Indiana qualified child care facility within five (5) years after the end of the taxable year in which a credit was allowed, the taxpayer is responsible for payment to the department of a recapture am…
Ind. Code § 6-3.1-39.5-13 Liability
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Effective 1-1-2024. Sec. 13. A taxpayer that claims a credit under this chapter is not liable for any act or omission occurring at an Indiana qualified child care facility that contracts with the taxpayer to provide child care services to employees of the taxpayer if the Indiana …
Ind. Code § 6-3.1-39.5-14 Maximum aggregate amount of credits
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Effective 1-1-2024. Sec. 14. (a) The maximum aggregate amount of tax credits allowed under this chapter may not exceed two million five hundred thousand dollars ($2,500,000) in each state fiscal year. (b) The department shall record the time of filing of each return claiming a ta…
Ind. Code § 6-3.1-39.5-15 Expiration
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Effective 1-1-2024. Sec. 15. This chapter expires July 1, 2025. As added by P.L.201-2023, SEC.103.
Ind. Code § 6-3.1-39.5-2 "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 trust; (4) an estate; (5) a limited liability company; or (6) a limited liability …
Ind. Code § 6-3.1-39.5-3 "Qualified child care expenditure"
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Effective 1-1-2024. Sec. 3. As used in this chapter, "qualified child care expenditure" means an expenditure: (1) for the acquisition, construction, rehabilitation, or expansion of property used as part of an Indiana qualified child care facility of a taxpayer that is operated fo…
Ind. Code § 6-3.1-39.5-4 "Qualified expenditure"
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Effective 1-1-2024. Sec. 4. As used in this chapter, "qualified expenditure" means a qualified child care expenditure. As added by P.L.201-2023, SEC.103.
Ind. Code § 6-3.1-39.5-5 "Recapture event"
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Effective 1-1-2024. Sec. 5. As used in this chapter, "recapture event" means: (1) the cessation of the operation of the Indiana qualified child care facility as an Indiana qualified child care facility; (2) subject to section 12(c) of this chapter, a change in ownership of an Ind…
Ind. Code § 6-3.1-39.5-6 "State tax liability"
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Effective 1-1-2024. Sec. 6. 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 § 6-3.1-39.5-7 "Taxpayer"
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Effective 1-1-2024. Sec. 7. As used in this chapter, "taxpayer" means any person, corporation, limited liability company, partnership, or other entity that has any state tax liability and employs one hundred (100) individuals or less. The term includes a pass through entity. Howe…
Ind. Code § 6-3.1-39.5-8 Entitlement to credit; amount of credit
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Effective 1-1-2024. Sec. 8. (a) A taxpayer that makes a qualified expenditure in a taxable year is entitled to a credit against the taxpayer's state tax liability for the taxable year. (b) Subject to section 9 of this chapter, the maximum amount of the credit to which a taxpayer …
Ind. Code § 6-3.1-39.5-9 Shareholder, partner, beneficiary, or member entitled to credit
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Effective 1-1-2024. Sec. 9. 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…