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Indiana Code — Title 6 (Taxation)

IC 6-3.1-38.3-9

Credit carryover

Official textiga.in.govlast amended

Sec. 9.

# (a)

If the amount of the credit determined under section 5 or 6 of this chapter, as applicable, for a taxpayer in a taxable year exceeds the taxpayer's state tax liability for that taxable year, the taxpayer may carry the excess credit over for a period not to exceed the taxpayer's following five (5) 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 taxpayer to obtain a credit under this chapter for any subsequent taxable year. A taxpayer is not entitled to a carryback or a refund of any unused credit amount.

# (b)

A taxpayer may not assign any part of a credit to which the taxpayer is entitled under this chapter.
As added by P.L.236-2023, SEC.68.

Amendment history

As added by P.L.236-2023, SEC.68.

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Nearby sections (25 sections)
  1. 6-3.1-38.1-12 · Carry over of excess tax credit
  2. 6-3.1-38.1-13 · Assignment of tax credit
  3. 6-3.1-38.1-14 · Aggregate amount of tax credits permitted
  4. 6-3.1-38.1-15 · Expiration
  5. 6-3.1-38.3-1 · "Pass through entity"
  6. 6-3.1-38.3-2 · "State tax liability"
  7. 6-3.1-38.3-3 · Credit
  8. 6-3.1-38.3-4 · Eligibility requirements
  9. 6-3.1-38.3-5 · Computation of credit amount; certain taxpayers
  10. 6-3.1-38.3-6 · Computation of credit amount; certain taxpayers
  11. 6-3.1-38.3-7 · Pass through entity; shareholder, partner, or member
  12. 6-3.1-38.3-8 · Claiming of credit on state tax return
  13. 6-3.1-38.3-9 · Credit carryover
  14. 6-3.1-38.3-10 · Report
  15. 6-3.1-38.3-11 · Expiration of chapter
  16. 6-3.1-39.5-1 · "Indiana qualified child care facility"
  17. 6-3.1-39.5-2 · "Pass through entity"
  18. 6-3.1-39.5-3 · "Qualified child care expenditure"
  19. 6-3.1-39.5-4 · "Qualified expenditure"
  20. 6-3.1-39.5-5 · "Recapture event"
  21. 6-3.1-39.5-6 · "State tax liability"
  22. 6-3.1-39.5-7 · "Taxpayer"
  23. 6-3.1-39.5-8 · Entitlement to credit; amount of credit
  24. 6-3.1-39.5-9 · Shareholder, partner, beneficiary, or member entitled to…
  25. 6-3.1-39.5-10 · Carry forward of credit
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