Effect of repeal of tax credit statute on carrying over unused

Official textiga.in.govlast amended 2014

tax credits
Sec. 4. Except as otherwise expressly provided, a taxpayer may carry forward any unused tax credit from a prior taxable year to a taxable year that begins after the repeal of the statute that provided the tax credit. However, any limits on:

# (1)

the amount carried forward; or

# (2)

the number of years to which an unused tax credit may be carried forward;
apply to any part of a tax credit carried forward under this section as if the statute allowing the unused tax credit to be carried forward had not been repealed.
As added by P.L.190-2014, SEC.14.

Amendment history

As added by P.L.190-2014, SEC.14.

Source: view the official text

Nearby sections (25 sections)

6-3-7-1 · Repealed
6-3-7-2 · Repealed
6-3-7-2.5 · Repealed
6-3-7-3 · Collected revenue; distribution and use
6-3-7-4 · Repealed
6-3-7-5 · Independent contractor; worker's compensation election for
6-3-8.1-1 · Application of chapter
6-3-8.1-2 · Provisions applying to imposition and collection of
6-3-8.1-3 · Determination of supplemental net income tax; forms and
6-3.1-1-1 · Definitions; application
6-3.1-1-2 · Order of application
6-3.1-1-3 · Limitation on number of credits granted; election by…
6-3.1-1-4 · Effect of repeal of tax credit statute on carrying over…
6-3.1-1-5 · Riverboat building tax credit allowed despite repeal of tax
6-3.1-4-1 · Definitions
6-3.1-4-2 · Amount of credit; computation
6-3.1-4-2.5 · Amount of credit; alternative computation
6-3.1-4-3 · Unused credits carried forward
6-3.1-4-4 · Application of Internal Revenue Code provisions
6-3.1-4-5 · Qualified research expenses; determination
6-3.1-4-6 · Federal credit expiration date inapplicable
6-3.1-4-7 · Pass through entity; shareholder, partner, or member
6-3.1-4-8 · Disclosure of reasons for not claiming the federal credit
6-3.1-7-1 · Definitions
6-3.1-7-2 · Eligible taxpayers; amount of credit; pass through entities

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