Carry forward of credit

Official textiga.in.govlast amended 2023

Sec. 10.

# (a)

If the amount of the credit determined under section 8(b) of this chapter 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 eligible taxpayer's following three (3) 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.201-2023, SEC.103.

Amendment history

As added by P.L.201-2023, SEC.103.

Source: view the official text

Nearby sections (25 sections)

6-3.1-38.3-9 · Credit carryover
6-3.1-38.3-10 · Report
6-3.1-38.3-11 · Expiration of chapter
6-3.1-39.5-1 · "Indiana qualified child care facility"
6-3.1-39.5-2 · "Pass through entity"
6-3.1-39.5-3 · "Qualified child care expenditure"
6-3.1-39.5-4 · "Qualified expenditure"
6-3.1-39.5-5 · "Recapture event"
6-3.1-39.5-6 · "State tax liability"
6-3.1-39.5-7 · "Taxpayer"
6-3.1-39.5-8 · Entitlement to credit; amount of credit
6-3.1-39.5-9 · Shareholder, partner, beneficiary, or member entitled to…
6-3.1-39.5-10 · Carry forward of credit
6-3.1-39.5-11 · Claiming a credit
6-3.1-39.5-12 · Payment of recapture amount; change of ownership
6-3.1-39.5-13 · Liability
6-3.1-39.5-14 · Maximum aggregate amount of credits
6-3.1-39.5-15 · Expiration
6-3.1-40-1 · Applicability
6-3.1-40-2 · "Physician"
6-3.1-40-3 · Repealed
6-3.1-40-4 · "State income tax liability"
6-3.1-40-5 · "Taxpayer"
6-3.1-40-6 · Credit; eligibility; amount
6-3.1-40-7 · Allowable years of credit

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