Entitlement to credit; amount of credit

Official textiga.in.govlast amended 2023

Sec. 8. (a) A taxpayer that makes a qualified expenditure in a taxable year is entitled to a credit against the taxpayer's state tax liability for the taxable year.

(b) Subject to section 9 of this chapter, the maximum amount of the credit to which a taxpayer is entitled in a particular taxable year is equal to the lesser of:

# (1)

fifty percent (50%) of the employer's qualified expenditures in the taxable year; or

# (2)

one hundred thousand dollars ($100,000).
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)

6-3.1-38.3-7 · Pass through entity; shareholder, partner, or member
6-3.1-38.3-8 · Claiming of credit on state tax return
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6-3.1-40-3 · Repealed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"

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