Indiana Code — Title 6 (Taxation)
IC 6-3.1-39.5-14
Maximum aggregate amount of credits
Official textiga.in.govlast amended
Sec. 14.
# (a)
The maximum aggregate amount of tax credits allowed under this chapter may not exceed two million five hundred thousand dollars ($2,500,000) in each state fiscal year.
# (b)
The department shall record the time of filing of each return claiming a tax credit under this chapter and shall approve the tax credits, if they otherwise qualify for a tax credit under this chapter, in the chronological order in which the returns are filed in the state fiscal year.
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)
- 6-3.1-39.5-2 · "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- 6-3.1-40-3 · Repealed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
- 6-3.1-40-8 · Credit carryover; carryback or refund of unused credit;
- 6-3.1-40-9 · Repealed
- 6-3.1-40-9.5 · Claiming credit on tax return; certified list of…
- 6-3.1-40-10 · Assessments