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Indiana Code — Title 6 (Taxation)

IC 6-3-2.1-2

Definitions

Official textiga.in.govlast amended 15 subsections

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" means the direct or indirect owners of an electing entity that are ultimately taxable on the entity's income under Subchapter K or Subchapter S of the Internal Revenue Code, except an owner described in subdivision (4)(A) through (4)(C).

# (3)

"Nonresident" means:

# (A)

a nonresident partner as defined by IC 6-3-4-12(n);

# (B)

a nonresident shareholder as defined by IC 6-3-4-13(n);

# (C)

a nonresident beneficiary as defined by IC 6-3-4-15(i); or

# (D)

in the case of a shareholder of a corporation described in IC 6-3-2-2.8(2), a corporation described in Section 501(c)(3) of the Internal Revenue Code that is exempt from taxation under Section 501(a) of the Internal Revenue Code and that is not domiciled in Indiana;
whichever is applicable.

# (4)

"Owner" means a direct or indirect owner of an electing entity and includes a beneficiary of an estate or trust. However an owner shall not include:

# (A)

an entity described in IC 6-3-2-2.8(3) that is not a partnership, a trust, or a corporation described in IC 6-3-2-2.8(2);

# (B)

an entity described in IC 6-3-2-2.8(5); or

# (C)

any other entity as determined by the department and listed in instructions or guidance issued by the department.

# (5)

"Resident" means a partner, shareholder, or beneficiary:

# (A)

that, in the case of an individual, estate, or trust, is a resident of Indiana as defined in IC 6-3-1-12; or

# (B)

that is a partnership or corporation, including a corporation described in IC 6-3-2-2.8(1) or IC 6-3-2-2.8(2), that is domiciled in Indiana.
As added by P.L.1-2023, SEC.5. Amended by P.L.194-2023, SEC.19.

Amendment history

As added by P.L.1-2023, SEC.5. Amended by P.L.194-2023, SEC.19.

Source: view the official text

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Nearby sections (25 sections)
  1. 6-3-2-18 · Employee medical care savings accounts; exemption limited to
  2. 6-3-2-19 · Distributions for higher education; exemptions
  3. 6-3-2-20 · Corporations; intangible expenses; directly related interest
  4. 6-3-2-21.7 · Exemption for certain income derived from patents
  5. 6-3-2-22 · Deduction; unreimbursed education expenditures
  6. 6-3-2-24 · Income tax exemption; Olympic medalist
  7. 6-3-2-25 · Adjusted gross income tax deduction for property taxes
  8. 6-3-2-26 · Deduction for contributions to a regional development
  9. 6-3-2-27.5 · Exemption for Indiana income earned by nonresidents
  10. 6-3-2-28 · Deduction for qualified health care sharing expenses
  11. 6-3-2-29 · Specified research or experimental expenditures; deduction;
  12. 6-3-2.1-1 · Applicability
  13. 6-3-2.1-2 · Definitions
  14. 6-3-2.1-3 · "Authorized person"; pass through entity tax election;
  15. 6-3-2.1-4 · Tax imposed; rate; return; treatment of certain tax payments
  16. 6-3-2.1-5 · Computation of tax; refundable credit; applicability of…
  17. 6-3-2.1-6 · Exception; estimated tax payments; penalty for underpayment
  18. 6-3-2.1-7 · Applicability; application of partnership audit and
  19. 6-3-3-1 · Amounts deducted and withheld
  20. 6-3-3-2 · Repealed
  21. 6-3-3-3 · Taxes paid to other states; liability for income tax to a…
  22. 6-3-3-4 · Repealed
  23. 6-3-3-4.1 · Repealed
  24. 6-3-3-5 · Credit; charitable contribution; postsecondary educational
  25. 6-3-3-5.1 · Repealed
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