Partnertax.ai
Start free trial →

Indiana Code — Title 6 (Taxation)

IC 6-3.1-38.1-9

Amount of tax credit

Official textiga.in.govlast amended

Sec. 9. (a) Subject to subsection (b), if the department certifies a taxpayer under section
8 of this chapter, the taxpayer is entitled to a tax credit against the taxpayer's state tax liability equal to:

# (1)

the taxpayer's:

(A) qualified railroad expenditures; or

(B) qualified new rail infrastructure expenditures; multiplied by

# (2)

fifty percent (50%).

(b) The amount of a tax credit allowed under subsection (a) shall not exceed the following:

(1) For qualified railroad expenditures, the product of:

(A) the number of miles of Class II or Class III railroad track owned or leased by the taxpayer in Indiana at the close of the taxable year; multiplied by

(B) three thousand five hundred dollars ($3,500).

(2) For qualified new rail infrastructure expenditures, the lesser of:

(A) fifty percent (50%) of the qualified new rail expenditures for each new rail served customer project completed by the taxpayer in the taxable year; or

(B) five hundred thousand dollars ($500,000) per rail served customer project.
As added by P.L.173-2025, SEC.2.

Amendment history

As added by P.L.173-2025, 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. 6-3.1-38-6 · Claiming credit on tax return
  2. 6-3.1-38-7 · Maximum amount of credit; approval of claims
  3. 6-3.1-38-8 · Credit carryover; carryback or refund of unused credit
  4. 6-3.1-38-9 · Rules
  5. 6-3.1-38.1-1 · "Pass through entity"
  6. 6-3.1-38.1-2 · "Qualified applicant"
  7. 6-3.1-38.1-3 · "Qualified new rail infrastructure expenditures"
  8. 6-3.1-38.1-4 · "Qualified railroad expenditures"
  9. 6-3.1-38.1-5 · "Qualified rural county"
  10. 6-3.1-38.1-6 · "State tax liability"
  11. 6-3.1-38.1-7 · "Taxpayer"
  12. 6-3.1-38.1-8 · Applying for tax credit; eligibility
  13. 6-3.1-38.1-9 · Amount of tax credit
  14. 6-3.1-38.1-10 · Amount of tax credit; pass through entities
  15. 6-3.1-38.1-11 · Claiming tax credit
  16. 6-3.1-38.1-12 · Carry over of excess tax credit
  17. 6-3.1-38.1-13 · Assignment of tax credit
  18. 6-3.1-38.1-14 · Aggregate amount of tax credits permitted
  19. 6-3.1-38.1-15 · Expiration
  20. 6-3.1-38.3-1 · "Pass through entity"
  21. 6-3.1-38.3-2 · "State tax liability"
  22. 6-3.1-38.3-3 · Credit
  23. 6-3.1-38.3-4 · Eligibility requirements
  24. 6-3.1-38.3-5 · Computation of credit amount; certain taxpayers
  25. 6-3.1-38.3-6 · Computation of credit amount; certain taxpayers
Full table of contents →