Partnertax.ai
Start free trial →

Indiana Code — Title 6 (Taxation)

IC 6-3.1-37.2-6

Credit; amount; assignment

Official textiga.in.govlast amended

Sec. 6. (a) Subject to entering into an agreement with the corporation under section 8 of

this chapter and subject to section 11 of this chapter, a taxpayer is entitled to a credit against the taxpayer's state tax liability for a taxable year if the taxpayer makes a qualified investment in that year.

(b) Subject to section 15 of this chapter, the amount of the credit to which a taxpayer is entitled may not exceed the lesser of:

# (1)

the qualified investment made by the taxpayer during the taxable year multiplied by thirty percent (30%); or

# (2)

five million dollars ($5,000,000).

(c) A taxpayer may assign any part of the credit to which the taxpayer is entitled under this chapter to a lessee of the mine reclamation site. A credit that is assigned under this subsection remains subject to this chapter.

(d) An assignment under subsection (c) must be in writing and both the taxpayer and the lessee must report the assignment on their state tax returns for the year in which the assignment is made in the manner prescribed by the department of state revenue. The taxpayer may not receive value in connection with the assignment under subsection (c) that exceeds the value of the part of the credit assigned.
As added by P.L.214-2023, SEC.2.

Amendment history

As added by P.L.214-2023, SEC.2.

Source: view the official text

Report a problem

What's wrong?

Sent anonymously with this page's citation. No personal information is collected.
Nearby sections (25 sections)
  1. 6-3.1-36-9 · Pass through entity; shareholder, partner, or member
  2. 6-3.1-36-10 · Claiming of credit on state tax return
  3. 6-3.1-36-11 · Credit carryover
  4. 6-3.1-36-11.5 · Credit assignability
  5. 6-3.1-36-11.7 · Credit limitation
  6. 6-3.1-36-12 · Credit subject to annual aggregate credit limit
  7. 6-3.1-36-13 · Expiration
  8. 6-3.1-37.2-1 · "Corporation"
  9. 6-3.1-37.2-2 · "Mine reclamation site"
  10. 6-3.1-37.2-3 · "Qualified investment"
  11. 6-3.1-37.2-4 · "State tax liability"
  12. 6-3.1-37.2-5 · "Taxpayer"
  13. 6-3.1-37.2-6 · Credit; amount; assignment
  14. 6-3.1-37.2-7 · Credit carryover and carryback
  15. 6-3.1-37.2-8 · Application to corporation
  16. 6-3.1-37.2-9 · Application evaluation
  17. 6-3.1-37.2-10 · Agreement
  18. 6-3.1-37.2-11 · Disqualification for substantial reduction in, or…
  19. 6-3.1-37.2-12 · Application of credit against taxpayer's taxes
  20. 6-3.1-37.2-13 · Claiming of credit and submission of certification
  21. 6-3.1-37.2-14 · Pass through entities
  22. 6-3.1-37.2-15 · Maximum aggregate amount allowed
  23. 6-3.1-37.2-16 · Limitations
  24. 6-3.1-37.2-17 · Expiration; carryforward after expiration
  25. 6-3.1-38-1 · Applicability
Full table of contents →