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Indiana Code — Title 6 (Taxation)

IC 6-3.1-38.1-10

Amount of tax credit; pass through entities

Official textiga.in.govlast amended

Sec. 10. (a) If a pass through entity is entitled to a credit under section 9 of this chapter but does not have state tax liability against which the credit may be applied, a shareholder, partner, or member of the pass through entity is entitled to a credit equal to:

# (1)

the 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.

(b) The credit provided under subsection (a) is in addition to a credit to which a shareholder, partner, or member of a pass through entity is otherwise entitled under this chapter. However, a pass through entity and a shareholder, partner, or member of the pass through entity may not claim more than one (1) credit for the same qualified railroad expenditure or qualified new rail infrastructure expenditure.
As added by P.L.173-2025, SEC.2.

Amendment history

As added by P.L.173-2025, SEC.2.

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Nearby sections (25 sections)
  1. 6-3.1-38-7 · Maximum amount of credit; approval of claims
  2. 6-3.1-38-8 · Credit carryover; carryback or refund of unused credit
  3. 6-3.1-38-9 · Rules
  4. 6-3.1-38.1-1 · "Pass through entity"
  5. 6-3.1-38.1-2 · "Qualified applicant"
  6. 6-3.1-38.1-3 · "Qualified new rail infrastructure expenditures"
  7. 6-3.1-38.1-4 · "Qualified railroad expenditures"
  8. 6-3.1-38.1-5 · "Qualified rural county"
  9. 6-3.1-38.1-6 · "State tax liability"
  10. 6-3.1-38.1-7 · "Taxpayer"
  11. 6-3.1-38.1-8 · Applying for tax credit; eligibility
  12. 6-3.1-38.1-9 · Amount of tax credit
  13. 6-3.1-38.1-10 · Amount of tax credit; pass through entities
  14. 6-3.1-38.1-11 · Claiming tax credit
  15. 6-3.1-38.1-12 · Carry over of excess tax credit
  16. 6-3.1-38.1-13 · Assignment of tax credit
  17. 6-3.1-38.1-14 · Aggregate amount of tax credits permitted
  18. 6-3.1-38.1-15 · Expiration
  19. 6-3.1-38.3-1 · "Pass through entity"
  20. 6-3.1-38.3-2 · "State tax liability"
  21. 6-3.1-38.3-3 · Credit
  22. 6-3.1-38.3-4 · Eligibility requirements
  23. 6-3.1-38.3-5 · Computation of credit amount; certain taxpayers
  24. 6-3.1-38.3-6 · Computation of credit amount; certain taxpayers
  25. 6-3.1-38.3-7 · Pass through entity; shareholder, partner, or member
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