Sec. 10. If a pass through entity is entitled to a credit under section 8 of this chapter but does not have state tax liability against which the tax credit may be applied, a shareholder, partner, or member of the pass through entity is entitled to a tax credit equal to:

(1) the tax credit determined for the pass through entity for the taxable year; multiplied by

Terms Used In Indiana Code 6-3.1-30-10

  • pass through entity: means :

    Indiana Code 6-3.1-30-3

  • state tax liability: means a taxpayer's total tax liability that is incurred under:

    Indiana Code 6-3.1-30-6

  • Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5
(2) the percentage of the pass through entity’s distributive income to which the shareholder, partner, or member is entitled.

As added by P.L.193-2005, SEC.21.

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