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Indiana Code — Title 6 (Taxation)

IC 6-3.1-18-10

Amount of tax credits allowed

Official textiga.in.govlast amended

Sec. 10. (a) The amount of tax credits allowed under this chapter may not exceed two hundred thousand dollars ($200,000) in any state fiscal year.

(b) The department shall:

# (1)

record the time of filing of each tax return claiming the credit under section 9 of this chapter; and

# (2)

approve the credit, if the business firm or person claiming the credit otherwise qualifies for a tax credit under this chapter, in the chronological order in which the tax return claiming the credit is filed in the state fiscal year.

(c) When the total credits approved under this section equal the maximum amount allowable in any state fiscal year, no credits thereafter filed for that same fiscal year shall be approved.
As added by P.L.15-1997, SEC.2. Amended by P.L.289-2001, SEC.14; P.L.124-2024,
SEC.27.

Amendment history

As added by P.L.15-1997, SEC.2. Amended by P.L.289-2001, SEC.14; P.L.124-2024, SEC.27.

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Nearby sections (25 sections)
  1. 6-3.1-18-0.7 · "Community based organization"
  2. 6-3.1-18-1 · "Community development corporation"
  3. 6-3.1-18-2 · "Fund"
  4. 6-3.1-18-3 · "Individual development account"
  5. 6-3.1-18-4 · "Pass through entity"
  6. 6-3.1-18-4.3 · "Person"
  7. 6-3.1-18-4.5 · "Qualified contribution"
  8. 6-3.1-18-5 · "State tax liability"
  9. 6-3.1-18-6 · Credit; amount; calculation; application
  10. 6-3.1-18-7 · Application of tax credit to pass through entities;…
  11. 6-3.1-18-8 · Credit supplement; other credits
  12. 6-3.1-18-9 · Documentation for credit; form; contents; notification of…
  13. 6-3.1-18-10 · Amount of tax credits allowed
  14. 6-3.1-18-11 · Tax credit available only in year paid
  15. 6-3.1-19-1 · "State and local tax liability"
  16. 6-3.1-19-1.5 · "Pass through entity"
  17. 6-3.1-19-2 · "Qualified investment"
  18. 6-3.1-19-2.5 · "Taxpayer"
  19. 6-3.1-19-3 · Entitlement to credit; amount; assignment
  20. 6-3.1-19-4 · Credit carryover; carryback or refund unavailable
  21. 6-3.1-19-5 · Ineligibility for credit to extent of reduction or…
  22. 6-3.1-19-5.5 · Repealed
  23. 6-3.1-19-6 · Method of claiming credit; submission of information
  24. 6-3.1-19-7 · Credit subject to annual aggregate credit limit
  25. 6-3.1-20-1 · "Indiana income"
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