Pass through entities

Official textiga.in.govlast amended 2009

Sec. 10. If a pass through entity is entitled to a credit under section 7 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 by

# (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.182-2009(ss), SEC.205.

Amendment history

As added by P.L.182-2009(ss), SEC.205.

Source: view the official text

Nearby sections (25 sections)

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"
6-3.1-30.5-5 · "State tax liability"
6-3.1-30.5-6 · "Taxpayer"
6-3.1-30.5-7 · Credit
6-3.1-30.5-8 · Amount of credit
6-3.1-30.5-9 · Expired
6-3.1-30.5-9.5 · Unused credit carried forward; taxable years beginning…
6-3.1-30.5-10 · Pass through entities
6-3.1-30.5-11 · Claim of credit; submission of information
6-3.1-30.5-12 · Use of contribution
6-3.1-30.5-13 · Maximum amount of credit
6-3.1-30.5-14 · Information posted by the department
6-3.1-30.5-15 · Adoption of rules
6-3.1-34-1 · "Board"
6-3.1-34-2 · "Corporation"
6-3.1-34-3 · "Floor space"
6-3.1-34-3.5 · "Mine reclamation site"
6-3.1-34-4 · "Pass through entity"
6-3.1-34-5 · "Placed in service"
6-3.1-34-6 · "Qualified redevelopment site"

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