Indiana Code — Title 6 (Taxation)
IC 6-3-2-24
Income tax exemption; Olympic medalist
Sec. 24. (a) This section applies to a taxable year beginning after December 31, 2013.
(b) As used in this section, "international committee" refers to the International Olympic
Committee and the International Paralympic Committee.
(c) As used in this section, "Olympic games" refers to an international sports competition conducted every two (2) years by an international committee, including both the summer and winter games.
(d) As used in this section, "Olympic medal" refers to a gold, silver, or bronze medal won by an individual competing at the Olympic games.
(e) An individual is entitled to an exemption from the adjusted gross income tax imposed under this article equal to the sum of:
# (1)
the value of an Olympic medal won during the taxable year; plus
# (2)
the amount of income received during the taxable year from the United States
Olympic Committee as prize money for winning the Olympic medal.
As added by P.L.87-2014, SEC.3.
Amendment history
As added by P.L.87-2014, SEC.3.
Source: view the official text
Nearby sections (25 sections)
- 6-3-2-13 · Expired
- 6-3-2-14 · Repealed
- 6-3-2-14.1 · Prize money accruing before July 1, 2002; exemption
- 6-3-2-14.5 · Repealed
- 6-3-2-15 · Repealed
- 6-3-2-16 · Transactions between taxable entity and unitary taxpayer
- 6-3-2-17 · Repealed
- 6-3-2-18 · Employee medical care savings accounts; exemption limited to
- 6-3-2-19 · Distributions for higher education; exemptions
- 6-3-2-20 · Corporations; intangible expenses; directly related interest
- 6-3-2-21.7 · Exemption for certain income derived from patents
- 6-3-2-22 · Deduction; unreimbursed education expenditures
- 6-3-2-24 · Income tax exemption; Olympic medalist
- 6-3-2-25 · Adjusted gross income tax deduction for property taxes
- 6-3-2-26 · Deduction for contributions to a regional development
- 6-3-2-27.5 · Exemption for Indiana income earned by nonresidents
- 6-3-2-28 · Deduction for qualified health care sharing expenses
- 6-3-2-29 · Specified research or experimental expenditures; deduction;
- 6-3-2.1-1 · Applicability
- 6-3-2.1-2 · Definitions
- 6-3-2.1-3 · "Authorized person"; pass through entity tax election;
- 6-3-2.1-4 · Tax imposed; rate; return; treatment of certain tax payments
- 6-3-2.1-5 · Computation of tax; refundable credit; applicability of…
- 6-3-2.1-6 · Exception; estimated tax payments; penalty for underpayment
- 6-3-2.1-7 · Applicability; application of partnership audit and