Indiana Code 5-28-26-6. “Income tax incremental amount”
Current as of: 2023 | Check for updates
|
Other versions
Sec. 6. As used in this chapter, “income tax incremental amount” means the remainder of:
(2) the income tax base period amount;
(1) the total amount of local income tax (IC 6-3.6) paid by employees employed in the territory comprising the global commerce center with respect to wages and salary earned for work in the territory comprising the global commerce center for a particular state fiscal year; minus
Terms Used In Indiana Code 5-28-26-6
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- income tax base period amount: means the total amount of local income tax (Indiana Code 5-28-26-5
- Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
as determined by the department of state revenue.
As added by P.L.203-2005, SEC.2. Amended by P.L.197-2016, SEC.6.