Sec. 14. (a) To be awarded a credit under this chapter, a taxpayer must submit an application to the corporation and enter into an agreement with the corporation.

     (b) The corporation shall prescribe the form of the application.

Terms Used In Indiana Code 6-3.1-30-14

  • corporation: refers to the Indiana economic development corporation created under IC 5-28-3 unless the context clearly denotes otherwise. See Indiana Code 6-3.1-30-1.5
  • 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.
  • state tax liability: means a taxpayer's total tax liability that is incurred under:

    Indiana Code 6-3.1-30-6

  • taxpayer: means an individual or entity:

    Indiana Code 6-3.1-30-7

  • Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5
     (c) A taxpayer may claim a credit awarded after June 30, 2019, against the taxpayer’s state tax liability for a taxable year only if the corporation awards a credit to the taxpayer and enters into an agreement with the taxpayer under section 15 of this chapter. The corporation may deny an application for a credit under this chapter in its sole discretion. A taxpayer may not seek judicial review of a decision by the corporation to deny a taxpayer’s application for a credit.

As added by P.L.158-2019, SEC.26.

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