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Indiana Code — Title 6 (Taxation)

IC 6-3.1-11-1

"Applicable percentage"

Official textiga.in.govlast amended

Sec. 1. As used in this chapter, "applicable percentage" means the percentage determined as follows:

# (1)

If a plant was placed in service at least fifteen (15) years ago but less than thirty

(30) years ago, the applicable percentage is fifteen percent (15%).

# (2)

If a plant was placed in service at least thirty (30) years ago but less than forty (40) years ago, the applicable percentage is twenty percent (20%).

# (3)

If a plant was placed in service at least forty (40) years ago, the applicable percentage is twenty-five percent (25%).
The time that has expired since a plant was placed in service shall be determined as of the date that an application is filed with the corporation. However, in the case of an industrial recovery site described in section 5(2) of this chapter, the time that has expired since a plant was placed in service shall be determined as of the date on which the demolition of the vacant plant was completed.
As added by P.L.379-1987(ss), SEC.11. Amended by P.L.113-2011, SEC.1; P.L.288-2013,
SEC.34; P.L.204-2016, SEC.16.

Amendment history

As added by P.L.379-1987(ss), SEC.11. Amended by P.L.113-2011, SEC.1; P.L.288-2013, SEC.34; P.L.204-2016, SEC.16.

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Nearby sections (25 sections)
  1. 6-3.1-10-1.7 · "Pass through entity" defined
  2. 6-3.1-10-2 · "Qualified investment" defined
  3. 6-3.1-10-2.5 · "SIC Manual" defined
  4. 6-3.1-10-3 · "State tax liability" defined
  5. 6-3.1-10-4 · "Taxpayer" defined
  6. 6-3.1-10-5 · "Transfer ownership" defined
  7. 6-3.1-10-6 · Credit for qualified investment; amount
  8. 6-3.1-10-6.5 · Pass through entity; credit
  9. 6-3.1-10-7 · Carryover of excess credit
  10. 6-3.1-10-8 · Qualifying for credit; request for determination; findings;
  11. 6-3.1-10-9 · Claiming credit
  12. 6-3.1-10-10 · Program expiration; treatment of credit carryovers
  13. 6-3.1-11-1 · "Applicable percentage"
  14. 6-3.1-11-2 · Repealed
  15. 6-3.1-11-2.5 · "Corporation"
  16. 6-3.1-11-3 · Repealed
  17. 6-3.1-11-4 · "Floor space"
  18. 6-3.1-11-5 · "Industrial recovery site"
  19. 6-3.1-11-6 · Repealed
  20. 6-3.1-11-7 · Repealed
  21. 6-3.1-11-8 · "Placed in service"
  22. 6-3.1-11-9 · "Plant"
  23. 6-3.1-11-10 · "Qualified investment"
  24. 6-3.1-11-11 · "Rehabilitation"
  25. 6-3.1-11-12 · "State tax liability"
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