Indiana Code 6-3.1-11-22. Application of credit against taxes owed; order; computation
Current as of: 2023 | Check for updates
|
Other versions
Sec. 22. (a) A credit to which a taxpayer is entitled under this chapter shall be applied against taxes owed by the taxpayer in the following order:
(2) Against the taxpayer’s insurance premiums tax liability (IC 27-1-18-2) or nonprofit agricultural organization health coverage tax (IC 6-8-15) for the taxable year.
(1) Against the taxpayer’s adjusted gross income tax liability (IC 6-3-1 through IC 6-3-7) for the taxable year.
Terms Used In Indiana Code 6-3.1-11-22
- taxpayer: means any person, corporation, limited liability company, partnership, or other entity that has any state tax liability and that is the owner or developer of an industrial recovery site. See Indiana Code 6-3.1-11-13
- Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5
(3) Against the taxpayer’s financial institutions tax (IC 6-5.5) for the taxable year.
(b) Whenever the tax paid by the taxpayer under any of the tax provisions listed in subsection (a) is a credit against the liability or a deduction in determining the tax base under another Indiana tax provision, the credit or deduction shall be computed without regard to the credit to which a taxpayer is entitled under this chapter.
As added by P.L.379-1987(ss), SEC.11. Amended by P.L.80-1989, SEC.11; P.L.347-1989(ss), SEC.17; P.L.1-1990, SEC.79; P.L.192-2002(ss), SEC.102; P.L.1-2003, SEC.37; P.L.154-2020, SEC.15.