Sec. 6. (a) A taxpayer is entitled to a credit against the taxpayer’s state tax liability for a taxable year if the taxpayer makes a qualified investment in that taxable year.

     (b) The amount of the credit to which a taxpayer is entitled is the percentage determined under section 8 of this chapter multiplied by the price of the qualified investment made by the taxpayer during the taxable year.

As added by P.L.9-1986, SEC.8.

Terms Used In Indiana Code 6-3.1-10-6

  • 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
  • state tax liability: means a taxpayer's total tax liability that is incurred under IC 6-3-1 through IC 6-3-7 (the adjusted gross income tax), as computed after the application of the credits that, under Indiana Code 6-3.1-10-3
  • 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
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