Credit carryover; no carryback or refund

Official textiga.in.govlast amended 2013

Sec. 13.

# (a)

If the amount of the credit determined under this chapter for a person in a taxable year exceeds the person's state tax liability for that taxable year, the person may carry over the excess to the following taxable years. The amount of the credit carryover from a taxable year shall be reduced to the extent that the carryover is used by the person to obtain a credit under this chapter for any subsequent taxable year. A credit may not be carried forward for more than six (6) taxable years following the taxable year in which the person is first entitled to claim the credit.

# (b)

A person is not entitled to a carryback or refund of any unused credit.
As added by P.L.277-2013, SEC.6.

Amendment history

As added by P.L.277-2013, SEC.6.

Source: view the official text

Nearby sections (25 sections)

6-3.1-34.6-1 · Applicability
6-3.1-34.6-2 · "Department"
6-3.1-34.6-3 · "Natural gas"
6-3.1-34.6-4 · "Pass through entity"
6-3.1-34.6-5 · "Person"
6-3.1-34.6-6 · "Qualified vehicle"
6-3.1-34.6-7 · "State tax liability"
6-3.1-34.6-8 · Credit claims; credit amounts; claims for vehicles…
6-3.1-34.6-9 · Maximum credit amount for vehicles placed into service in
6-3.1-34.6-10 · Maximum annual credit; maximum overall credit
6-3.1-34.6-11 · Claiming credit; pass through entity
6-3.1-34.6-12 · Procedure to claim credit
6-3.1-34.6-13 · Credit carryover; no carryback or refund
6-3.1-34.6-14 · Credit sale, assignment, or transfer prohibited
6-3.1-35-1 · Applicability; applications
6-3.1-35-2 · Definitions
6-3.1-35-3 · Amount of credit; computation
6-3.1-35-4 · Credit carryover
6-3.1-35-5 · Allocation of the credit by pass through entities that do…
6-3.1-35-6 · Credit assignment
6-3.1-35-7 · Requirements to be awarded a credit; maximum amount of
6-3.1-35-8 · Annual aggregate credit limit
6-3.1-35-9 · Procedures to claim a credit
6-3.1-35-10 · Rules
6-3.1-35-11 · Evaluation of the effectiveness of the credit

Full table of contents →