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Indiana Code — Title 6 (Taxation)

IC 6-3.1-17.1-10

Carryover of unused credit amount

Official textiga.in.govlast amended

Sec. 10.

# (a)

If the credit provided by this chapter exceeds a qualified taxpayer's state tax liability for the taxable year for which the credit is first claimed, the excess may be carried over to succeeding taxable years and used as a credit against the tax otherwise due and payable by the qualified taxpayer under IC 6-3 during those taxable years. Each time that the credit is carried over to a succeeding taxable year, the credit is to be reduced by the amount that was used as a credit during the immediately preceding taxable year. The credit provided by this chapter may be carried forward and applied to succeeding taxable years for ten (10) taxable years following the unused credit year.

# (b)

A qualified taxpayer is not entitled to any carryback or refund of any unused credit.
As added by P.L.236-2023, SEC.67.

Amendment history

As added by P.L.236-2023, SEC.67.

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Nearby sections (25 sections)
  1. 6-3.1-13-28 · Repealed
  2. 6-3.1-13-29 · Credit subject to annual aggregate credit limit
  3. 6-3.1-16.1-1 · Authorization to claim credit
  4. 6-3.1-17.1-1 · Applicability of chapter
  5. 6-3.1-17.1-2 · "Pass through entity"
  6. 6-3.1-17.1-3 · "Qualified historic structure"
  7. 6-3.1-17.1-4 · "Qualified rehabilitation expenditure"
  8. 6-3.1-17.1-5 · "Qualified taxpayer"
  9. 6-3.1-17.1-6 · "State tax liability"
  10. 6-3.1-17.1-7 · Amount of credit; computation
  11. 6-3.1-17.1-8 · Pass through entity; shareholder; partner; or member
  12. 6-3.1-17.1-9 · Claiming of credit on annual state tax return
  13. 6-3.1-17.1-10 · Carryover of unused credit amount
  14. 6-3.1-17.1-11 · Credit assignment
  15. 6-3.1-17.1-12 · Annual aggregate credit limit
  16. 6-3.1-17.1-13 · Credit included in calculation of aggregate tax credits…
  17. 6-3.1-17.1-14 · Adoption of rules
  18. 6-3.1-17.1-15 · Expiration of chapter
  19. 6-3.1-18-0.3 · "Authority"
  20. 6-3.1-18-0.5 · "Business firm"
  21. 6-3.1-18-0.7 · "Community based organization"
  22. 6-3.1-18-1 · "Community development corporation"
  23. 6-3.1-18-2 · "Fund"
  24. 6-3.1-18-3 · "Individual development account"
  25. 6-3.1-18-4 · "Pass through entity"
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