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Indiana Code — Title 6 (Taxation)

IC 6-3.1-10-6.5

Pass through entity; credit

Official textiga.in.govlast amended

Sec. 6.5. (a) If a pass through entity is entitled to a credit under section 6 of this chapter but does not have state tax liability against which the tax credit may be applied, an individual who is a shareholder, partner, or member of the pass through entity is entitled to a tax credit equal to:

# (1)

the tax credit determined for the pass through entity for the taxable year; multiplied by

# (2)

the percentage of the pass through entity's distributive income to which the shareholder, partner, or member is entitled.

(b) The credit provided under subsection (a) is in addition to a tax credit to which a shareholder, partner, or member of a pass through entity is otherwise entitled under this chapter. However, a pass through entity and an individual who is a shareholder, partner, or member of the pass through entity may not claim more than one (1) credit for the same investment.
As added by P.L.57-1996, SEC.3.

Amendment history

As added by P.L.57-1996, SEC.3.

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Nearby sections (25 sections)
  1. 6-3.1-9-3 · Amount of credit; application; pass through entities;
  2. 6-3.1-9-4 · Documentation for credit; form; contents; priority…
  3. 6-3.1-9-5 · Amount of tax credits allowed
  4. 6-3.1-9-6 · Allowable years of credit
  5. 6-3.1-10-1 · "Enterprise zone" defined
  6. 6-3.1-10-1.7 · "Pass through entity" defined
  7. 6-3.1-10-2 · "Qualified investment" defined
  8. 6-3.1-10-2.5 · "SIC Manual" defined
  9. 6-3.1-10-3 · "State tax liability" defined
  10. 6-3.1-10-4 · "Taxpayer" defined
  11. 6-3.1-10-5 · "Transfer ownership" defined
  12. 6-3.1-10-6 · Credit for qualified investment; amount
  13. 6-3.1-10-6.5 · Pass through entity; credit
  14. 6-3.1-10-7 · Carryover of excess credit
  15. 6-3.1-10-8 · Qualifying for credit; request for determination; findings;
  16. 6-3.1-10-9 · Claiming credit
  17. 6-3.1-10-10 · Program expiration; treatment of credit carryovers
  18. 6-3.1-11-1 · "Applicable percentage"
  19. 6-3.1-11-2 · Repealed
  20. 6-3.1-11-2.5 · "Corporation"
  21. 6-3.1-11-3 · Repealed
  22. 6-3.1-11-4 · "Floor space"
  23. 6-3.1-11-5 · "Industrial recovery site"
  24. 6-3.1-11-6 · Repealed
  25. 6-3.1-11-7 · Repealed
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