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Indiana Code — Title 6 (Taxation)

IC 6-3.1-45-9

Pass through entity without state tax liability; tax credit for

Official textiga.in.govlast amended

shareholder, partner, or member
Sec. 9. (a) If a pass through entity is entitled to a credit under section 7 of this chapter but does not have state tax liability against which the tax credit may be applied, an individual who is a shareholder, partner, or member of the pass through entity is entitled to a tax credit equal to:

# (1)

the tax credit determined for the pass through entity for the taxable year; multiplied by

# (2)

the percentage of the pass through entity's distributive income to which the shareholder, partner, or member is entitled.

(b) The credit provided under subsection (a) is in addition to a tax credit to which a shareholder, partner, or member of a pass through entity is otherwise entitled under this chapter. However, a pass through entity and an individual who is a shareholder, partner, or member of the pass through entity may not claim more than one (1) credit for the same qualified investment.
As added by P.L.217-2025, SEC.1.

Amendment history

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

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Nearby sections (25 sections)
  1. 6-3.1-40.9-13 · Maximum amount of credits
  2. 6-3.1-40.9-14 · Information concerning the credit on the department…
  3. 6-3.1-40.9-15 · Adoption of rules
  4. 6-3.1-40.9-16 · Expiration
  5. 6-3.1-45-1 · Applicability
  6. 6-3.1-45-2 · "Department"
  7. 6-3.1-45-3 · "Qualified investment"
  8. 6-3.1-45-4 · "Small modular nuclear reactor"
  9. 6-3.1-45-5 · "State tax liability"
  10. 6-3.1-45-6 · "Taxpayer"
  11. 6-3.1-45-7 · Credit for qualified investment; amount of credit
  12. 6-3.1-45-8 · Carryover of excess credit; taxpayer not entitled to…
  13. 6-3.1-45-9 · Pass through entity without state tax liability; tax…
  14. 6-3.1-45-10 · Claiming credit; annual state tax return; required…
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