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Indiana Code — Title 6 (Taxation)

IC 6-3.1-13-20

Claiming credit; election to receive payment in lieu of credit;

Official textiga.in.govlast amended

submission of required information to department of state revenue
Sec. 20.

# (a)

Except as provided in subsection (b), a taxpayer claiming a credit under this chapter must claim the credit on the taxpayer's annual state tax return or returns in the manner prescribed by the department of state revenue. The taxpayer shall submit to the department of state revenue all information that the department determines necessary for the calculation of the credit provided by this chapter and the determination of whether the credit was properly claimed.

# (b)

Notwithstanding subsection (a), if a taxpayer is entitled to a credit under this chapter, the taxpayer may, with the approval of the corporation, elect to forgo claiming the credit against any state tax liability and submit the credit to the department with a request to receive a payment from the corporation, to be paid from funds appropriated to the corporation for business promotion and innovation that is equal to the credit for that taxable year as provided in IC 6-3-5-5.
As added by P.L.41-1994, SEC.1. Amended by P.L.4-2005, SEC.78; P.L.135-2022, SEC.9;
P.L.213-2025, SEC.74.

Amendment history

As added by P.L.41-1994, SEC.1. Amended by P.L.4-2005, SEC.78; P.L.135-2022, SEC.9; P.L.213-2025, SEC.74.

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Nearby sections (25 sections)
  1. 6-3.1-13-12 · Repealed
  2. 6-3.1-13-13 · Purposes for which credit may be awarded; years for which
  3. 6-3.1-13-14 · Application to enter into agreement for tax credit
  4. 6-3.1-13-15 · Agreement for tax credit with respect to new job creation;
  5. 6-3.1-13-15.5 · Agreement for tax credit with respect to job retention;
  6. 6-3.1-13-15.7 · Repealed
  7. 6-3.1-13-16 · Relocation of jobs from one site to another within state;…
  8. 6-3.1-13-17 · Amount of credit awarded; factors; conditions for a…
  9. 6-3.1-13-18 · Duration of credit; maximum credit with respect to job
  10. 6-3.1-13-19 · Agreement for tax credit with respect to job creation;
  11. 6-3.1-13-19.5 · Agreement for tax credit with respect to job retention;
  12. 6-3.1-13-19.7 · Repealed
  13. 6-3.1-13-20 · Claiming credit; election to receive payment in lieu of…
  14. 6-3.1-13-21 · Pass through entity; calculation of tax credit;…
  15. 6-3.1-13-22 · Noncompliance with agreement; assessments
  16. 6-3.1-13-23 · Repealed
  17. 6-3.1-13-24 · Biennial evaluation by Indiana economic development
  18. 6-3.1-13-25 · Rules adoption; fees
  19. 6-3.1-13-26 · Economic development for a growing economy fund; use;
  20. 6-3.1-13-27 · Repealed
  21. 6-3.1-13-28 · Repealed
  22. 6-3.1-13-29 · Credit subject to annual aggregate credit limit
  23. 6-3.1-16.1-1 · Authorization to claim credit
  24. 6-3.1-17.1-1 · Applicability of chapter
  25. 6-3.1-17.1-2 · "Pass through entity"
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