Indiana Code 6-3.1-26-23. Noncompliance with agreement; assessments
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Sec. 23. If the corporation determines that a taxpayer who has claimed a credit under this chapter is not entitled to the credit because of the taxpayer’s noncompliance with the requirements of the tax credit agreement or all the provisions of this chapter, the corporation shall, after giving the taxpayer an opportunity to explain the noncompliance:
(2) request the department of state revenue to impose an assessment on the taxpayer in an amount that may not exceed the sum of any previously allowed credits under this chapter together with interest and penalties required or permitted by law.
(1) notify the department of state revenue of the noncompliance; and
Terms Used In Indiana Code 6-3.1-26-23
- 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.
- corporation: means the Indiana economic development corporation established by IC 5-28-3-1. See Indiana Code 6-3.1-26-2.5
- taxpayer: means an individual, a corporation, a partnership, or other entity that has state tax liability. See Indiana Code 6-3.1-26-11
As added by P.L.224-2003, SEC.197. Amended by P.L.4-2005, SEC.111; P.L.145-2016, SEC.34.