Indiana Code 6-3.1-30-8. Tax credit
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Sec. 8. Subject to entering into an agreement with the corporation under sections 14 and 15 of this chapter, if the corporation certifies that a taxpayer:
(2) completes a qualifying project; and
(1) is an eligible business;
Terms Used In Indiana Code 6-3.1-30-8
- 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.
- eligible business: means either of the following:
Indiana Code 6-3.1-30-2
- qualifying project: means the relocation of the corporate headquarters of an eligible business from a location outside Indiana to a location in Indiana. See Indiana Code 6-3.1-30-4
- relocation costs: means the reasonable and necessary expenses incurred by an eligible business for a qualifying project. See Indiana Code 6-3.1-30-5
- 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
(3) incurs relocation costs;
the taxpayer is entitled to a credit against the taxpayer’s state tax liability for the taxable year in which the relocation costs are incurred. The credit allowed under this section is equal to the amount determined under section 9 of this chapter.
As added by P.L.193-2005, SEC.21. Amended by P.L.137-2006, SEC.9; P.L.1-2007, SEC.58; P.L.288-2013, SEC.64; P.L.158-2019, SEC.23; P.L.135-2022, SEC.12.