Definitions

# (1)

fixed base percentage; and

# (2)

average annual gross receipts.
"Indiana qualified research expense" means qualified research expense that is incurred for research conducted in Indiana.
"Qualified research expense" means qualified research expense (as defined in Section
41(b) of the Internal Revenue Code).
"Pass through entity" means:

(1) a corporation that is exempt from the adjusted gross income tax under
IC 6-3-2-2.8(2);

(2) a partnership;

# (3)

a limited liability company; or

# (4)

a limited liability partnership.
"Research expense tax credit" means a credit provided under this chapter against any tax otherwise due and payable under IC 6-3.
"Taxpayer" means an individual, a corporation, a limited liability company, a limited liability partnership, a trust, or a partnership that has any tax liability under IC 6-3 (adjusted gross income tax).
As added by P.L.51-1984, SEC.1. Amended by P.L.57-1990, SEC.1; P.L.8-1993, SEC.85;
P.L.8-1996, SEC.7; P.L.192-2002(ss), SEC.86; P.L.193-2005, SEC.12; P.L.242-2015,
SEC.21.