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Indiana Administrative Code — Title 45 (Dept. of State Revenue)

45 IAC 3.1-1-78

Credit for the elderly

Official textiac.iga.in.govlast amended

Sec. 78. Credit for the Elderly. A resident individual, and his spouse in the case of a joint return, is allowed a credit for the elderly on his

Indiana return provided he qualifies for the credit under Section 37 of the Internal Revenue Code. The allowable credit is equal to the lesser

of:

(A) Two-fifteenths (2/15) of tentative credit for the elderly on Federal schedules R and RP; or,

(B) *The remainder of:

(1) total taxes imposed for the taxable year less

(2) any allowable college credit or credit for taxes paid to other states.

*[The sum of college credit, credit for taxes paid to other states, and credit for the elderly may be equal to but cannot exceed the amount of state

income tax due to Indiana.]

Amendment history

(Department of State Revenue; Reg 6-3-3-4.1(010); filed Oct 15, 1979, 11:15 am: 2 IR 1537; errata, 2 IR 1743) NOTE: IC 6-3-3- 4.1 concerning the credit for the elderly was repealed by P.L.25-1981, SECTION 9. See, IC 6-3-3-9 concerning the unified tax credit for the elderly.

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