Pass through entity; shareholder, partner, or member

Official textiga.in.govlast amended 2022

Sec. 9. 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, member, or beneficiary 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, member, or beneficiary is entitled.
As added by P.L.135-2022, SEC.19.

Amendment history

As added by P.L.135-2022, SEC.19.

Source: view the official text

Nearby sections (25 sections)

6-3.1-35.8-6 · Unused credits
6-3.1-35.8-6.1 · Information posted by the department
6-3.1-35.8-7 · Applicable tax years
6-3.1-35.8-8 · Expiration
6-3.1-36-1 · "Corporation"
6-3.1-36-2 · "Qualified applicant"
6-3.1-36-3 · "Qualified media production"
6-3.1-36-4 · "Qualified production expenses"
6-3.1-36-5 · "State tax liability"
6-3.1-36-6 · "Taxpayer"
6-3.1-36-7 · Application for tax credit; certification of eligibility
6-3.1-36-8 · Determination of tax credit amount
6-3.1-36-9 · Pass through entity; shareholder, partner, or member
6-3.1-36-10 · Claiming of credit on state tax return
6-3.1-36-11 · Credit carryover
6-3.1-36-11.5 · Credit assignability
6-3.1-36-11.7 · Credit limitation
6-3.1-36-12 · Credit subject to annual aggregate credit limit
6-3.1-36-13 · Expiration
6-3.1-37.2-1 · "Corporation"
6-3.1-37.2-2 · "Mine reclamation site"
6-3.1-37.2-3 · "Qualified investment"
6-3.1-37.2-4 · "State tax liability"
6-3.1-37.2-5 · "Taxpayer"
6-3.1-37.2-6 · Credit; amount; assignment

Full table of contents →