Pass through entity; shareholder, partner, or member

Official textiga.in.govlast amended 2005

Sec. 10. If a pass through entity is entitled to a credit under section 8 of this chapter but does not have state tax liability against which the tax credit may be applied, a shareholder, partner, or member of the pass through entity is entitled to a tax credit equal to:

# (1)

the tax credit determined for the pass through entity for the taxable year; multiplied

# (2)

the percentage of the pass through entity's distributive income to which the shareholder, partner, or member is entitled.
As added by P.L.193-2005, SEC.21.

Amendment history

As added by P.L.193-2005, SEC.21.

Source: view the official text

Nearby sections (25 sections)

6-3.1-30-1 · "Corporate headquarters"
6-3.1-30-1.5 · "Corporation"
6-3.1-30-2 · "Eligible business"
6-3.1-30-3 · "Pass through entity"
6-3.1-30-4 · "Qualifying project"
6-3.1-30-5 · "Relocation costs"
6-3.1-30-6 · "State tax liability"
6-3.1-30-7 · "Taxpayer"
6-3.1-30-7.1 · "Venture capital"
6-3.1-30-7.5 · Duties of the corporation
6-3.1-30-8 · Tax credit
6-3.1-30-9 · Determination of tax credit amount
6-3.1-30-10 · Pass through entity; shareholder, partner, or member
6-3.1-30-11 · Carryover; unused tax credit; refundable at the…
6-3.1-30-12 · Claiming tax credit; returns; information required by
6-3.1-30-13 · Determination of expenses resulting from relocation
6-3.1-30-14 · Application; requirement to enter into an agreement with…
6-3.1-30-15 · Provisions required in an agreement
6-3.1-30-16 · Noncompliance with agreement; assessments
6-3.1-30-17 · Credit subject to annual aggregate credit limit
6-3.1-30.5-0.5 · Severability
6-3.1-30.5-1 · "Credit"
6-3.1-30.5-2 · "Pass through entity"
6-3.1-30.5-3 · "Scholarship granting organization"
6-3.1-30.5-4 · "School scholarship program"

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