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Indiana Code — Title 6 (Taxation)

IC 6-3.1-18-6

Credit; amount; calculation; application

Official textiga.in.govlast amended

Sec. 6.

# (a)

Subject to the limitations provided in subsection (b) and sections 7, 8, 9, 10, and 11 of this chapter, the department shall grant a tax credit against any state tax liability due equal to fifty percent (50%) of the amount of a qualified contribution made in a taxable year by a business firm or person if the qualified contribution is not less than one hundred dollars ($100) and not more than fifty thousand dollars ($50,000).

# (b)

The credit provided by this chapter shall only be applied against any state tax liability owed by the taxpayer after the application of any credits that under IC 6-3.1-1-2 must be applied before the credit provided by this chapter.
As added by P.L.15-1997, SEC.2. Amended by P.L.4-1999, SEC.4; P.L.192-2002(ss),
SEC.112; P.L.50-2016, SEC.11; P.L.124-2024, SEC.25.

Amendment history

As added by P.L.15-1997, SEC.2. Amended by P.L.4-1999, SEC.4; P.L.192-2002(ss), SEC.112; P.L.50-2016, SEC.11; P.L.124-2024, SEC.25.

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Nearby sections (25 sections)
  1. 6-3.1-17.1-14 · Adoption of rules
  2. 6-3.1-17.1-15 · Expiration of chapter
  3. 6-3.1-18-0.3 · "Authority"
  4. 6-3.1-18-0.5 · "Business firm"
  5. 6-3.1-18-0.7 · "Community based organization"
  6. 6-3.1-18-1 · "Community development corporation"
  7. 6-3.1-18-2 · "Fund"
  8. 6-3.1-18-3 · "Individual development account"
  9. 6-3.1-18-4 · "Pass through entity"
  10. 6-3.1-18-4.3 · "Person"
  11. 6-3.1-18-4.5 · "Qualified contribution"
  12. 6-3.1-18-5 · "State tax liability"
  13. 6-3.1-18-6 · Credit; amount; calculation; application
  14. 6-3.1-18-7 · Application of tax credit to pass through entities;…
  15. 6-3.1-18-8 · Credit supplement; other credits
  16. 6-3.1-18-9 · Documentation for credit; form; contents; notification of…
  17. 6-3.1-18-10 · Amount of tax credits allowed
  18. 6-3.1-18-11 · Tax credit available only in year paid
  19. 6-3.1-19-1 · "State and local tax liability"
  20. 6-3.1-19-1.5 · "Pass through entity"
  21. 6-3.1-19-2 · "Qualified investment"
  22. 6-3.1-19-2.5 · "Taxpayer"
  23. 6-3.1-19-3 · Entitlement to credit; amount; assignment
  24. 6-3.1-19-4 · Credit carryover; carryback or refund unavailable
  25. 6-3.1-19-5 · Ineligibility for credit to extent of reduction or…
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