Carryover of excess credit; taxpayer not entitled to carryback

Official textiga.in.govlast amended 2025

or refund
Sec. 8.

# (a)

If the amount determined under section 7 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 over to the following 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.

# (b)

A taxpayer is not entitled to a carryback or refund of any unused credit.
As added by P.L.217-2025, SEC.1.

Amendment history

As added by P.L.217-2025, SEC.1.

Source: view the official text

Nearby sections (25 sections)

6-3.1-40.9-12 · Claiming the credit
6-3.1-40.9-13 · Maximum amount of credits
6-3.1-40.9-14 · Information concerning the credit on the department…
6-3.1-40.9-15 · Adoption of rules
6-3.1-40.9-16 · Expiration
6-3.1-45-1 · Applicability
6-3.1-45-2 · "Department"
6-3.1-45-3 · "Qualified investment"
6-3.1-45-4 · "Small modular nuclear reactor"
6-3.1-45-5 · "State tax liability"
6-3.1-45-6 · "Taxpayer"
6-3.1-45-7 · Credit for qualified investment; amount of credit
6-3.1-45-8 · Carryover of excess credit; taxpayer not entitled to…
6-3.1-45-9 · Pass through entity without state tax liability; tax…
6-3.1-45-10 · Claiming credit; annual state tax return; required…
6-3.5-4-0.1 · Application of certain amendments to chapter
6-3.5-4-0.5 · Ordinance amendments; application; liability
6-3.5-4-1 · Definitions
6-3.5-4-1.1 · Local income tax council
6-3.5-4-2 · Imposition and rate of surtax; wheel tax; duration; unpaid…
6-3.5-4-3 · Vehicles subject to tax
6-3.5-4-4 · Rescission of surtax and wheel tax
6-3.5-4-5 · Increase or decrease of surtax
6-3.5-4-6 · Adopted ordinance; letter approving transportation asset
6-3.5-4-7 · Registration of vehicle; surtax; amount; collection

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