Indiana Code 6-3.1-10-10. Program expiration; treatment of credit carryovers
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Sec. 10. (a) Notwithstanding any other law and except as provided in subsection (b), a taxpayer is entitled to receive a credit under this chapter only for a qualified investment made before January 1, 2018.
(c) This section may not be construed to prevent a taxpayer from carrying an unused tax credit attributable to a qualified investment made before January 1, 2018, or made as provided in subsection (b) forward to a taxable year beginning after December 31, 2017, and before January 1, 2028, in the manner provided by section 7 of this chapter.
(b) A taxpayer is entitled to receive a credit for a qualified investment made after December 31, 2017, and before January 1, 2028, if the qualified investment is approved by the Indiana economic development corporation before January 1, 2018.
Terms Used In Indiana Code 6-3.1-10-10
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- qualified investment: means the purchase of an ownership interest in a business located in an enterprise zone if the purchase is approved by the Indiana economic development corporation under section 8 of this chapter. See Indiana Code 6-3.1-10-2
- taxpayer: includes a pass through entity. See Indiana Code 6-3.1-10-4
- Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5
(d) This chapter expires January 1, 2028.
As added by P.L.238-2017, SEC.21.