Indiana Code 6-3.1-30-9. Determination of tax credit amount
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Sec. 9. (a) Subject to subsection (b), the amount of the credit to which a taxpayer is entitled under section 8 of this chapter equals the product of:
(2) the amount of the taxpayer’s relocation costs in the taxable year.
(1) a percentage determined by the corporation that may not exceed fifty percent (50%); multiplied by
Terms Used In Indiana Code 6-3.1-30-9
- eligible business: means either of the following:
Indiana Code 6-3.1-30-2
- 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
(b) The credit to which a taxpayer is entitled under section 8 of this chapter may not reduce the taxpayer’s state tax liability below the amount of the taxpayer’s state tax liability in the taxable year immediately preceding the taxable year in which the taxpayer first incurred relocation costs. However, this subsection does not apply to a taxpayer that qualifies as an eligible business under section 2(2) of this chapter.
As added by P.L.193-2005, SEC.21. Amended by P.L.288-2013, SEC.65; P.L.158-2019, SEC.24.