Indiana Code — Title 6 (Taxation)
IC 6-3.1-22-13
Recaptured credit
Sec. 13. (a) A credit claimed under this chapter shall be recaptured from the taxpayer if:
# (1)
the property is transferred less than five (5) years after completion of the certified preservation or rehabilitation work; or
# (2)
less than five (5) years after completion of the certified preservation or rehabilitation, additional modifications to the property are undertaken that do not meet the standards of the office.
(b) If the recapture of a credit is required under this section, an amount equal to the credit recaptured shall be added to the tax liability of the taxpayer for the taxable year during which the credit is recaptured.
As added by P.L.129-2001, SEC.7. Amended by P.L.166-2014, SEC.32.
Amendment history
As added by P.L.129-2001, SEC.7. Amended by P.L.166-2014, SEC.32.
Source: view the official text
Nearby sections (25 sections)
- 6-3.1-22-1 · Repealed
- 6-3.1-22-2 · "Office"
- 6-3.1-22-3 · "Preservation"
- 6-3.1-22-4 · "Qualified expenditures"
- 6-3.1-22-5 · "Rehabilitation"
- 6-3.1-22-6 · "State tax liability"
- 6-3.1-22-7 · "Taxpayer"
- 6-3.1-22-8 · Entitlement to credit
- 6-3.1-22-9 · Qualifying conditions; assistance to office by department…
- 6-3.1-22-10 · Certifications for rehabilitation work
- 6-3.1-22-11 · Credit claimed on tax return
- 6-3.1-22-12 · Reduction of adjusted basis
- 6-3.1-22-13 · Recaptured credit
- 6-3.1-22-14 · Credit exceeding tax liability
- 6-3.1-22-15 · Maximum credit; restrictions
- 6-3.1-22-15.5 · Residential historic rehabilitation credit; eligibility
- 6-3.1-22-16 · Adoption of rules
- 6-3.1-24-1 · "Pass through entity" defined
- 6-3.1-24-2 · "Qualified Indiana business" defined
- 6-3.1-24-2.5 · "Qualified Indiana investment fund"
- 6-3.1-24-3 · "Qualified investment capital" defined
- 6-3.1-24-4 · "State tax liability" defined
- 6-3.1-24-4.5 · "Substantial presence"
- 6-3.1-24-5 · "Taxpayer" defined
- 6-3.1-24-6 · Credit; eligibility