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Indiana Code — Title 6 (Taxation)

IC 6-3.1-1-2

Order of application

Official textiga.in.govlast amended

Sec. 2. (a) The tax credits a taxpayer is entitled to shall be applied against the taxpayer's tax liabilities in the following order:

# (1)

First, credits which may not be refunded to a taxpayer nor carried over and applied against any tax liability for any succeeding taxable year.

# (2)

Second, credits which may not be refunded to a taxpayer, but which may be carried over and applied against any tax liability for any succeeding taxable year.

# (3)

Third, credits which will be refunded to a taxpayer to the extent the credit exceeds the tax liability it is to be applied against.

(b) Credits described in subsection (a)(2) shall be applied against a taxpayer's tax liabilities so that the credits which may be applied to the fewest succeeding taxable years are utilized first.
As added by P.L.51-1984, SEC.1.

Amendment history

As added by P.L.51-1984, SEC.1.

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