Credit; eligibility; amount

# (1)

has an ownership interest in a physician owned medical practice described in section 5(2) of this chapter that:

# (A)

is established as a legal entity under Indiana law after December 31, 2023;

# (B)

opens and begins to provide health care services to patients in a particular calendar year beginning after December 31, 2023; and

# (C)

has billed for health care services for at least six (6) months of a calendar year;

# (2)

has an ownership interest in the income of the physician owned medical practice

that is at least:

# (A)

for a physician owned medical practice with not more than ten (10) owners, five percent (5%) of the physician owned medical practice's income; and

# (B)

for a physician owned medical practice with more than ten (10) owners, fifty percent (50%) of the physician owned medical practice's income divided by the number of physicians who own an interest in the physician owned medical practice;
and

# (3)

provided health care services in the physician owned medical practice for at least six (6) months of a calendar year;
the taxpayer may, subject to sections 7 and 9.5 of this chapter, claim a credit against the taxpayer's state income tax liability. Subject to sections 8 and 11 of this chapter, the amount of the credit allowed under this chapter for a taxpayer in the particular calendar year is twenty thousand dollars ($20,000).
As added by P.L.203-2023, SEC.3. Amended by P.L.230-2025, SEC.74.