Indiana Code 6-3.1-34.6-11. Claiming credit; pass through entity
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Sec. 11. (a) If a pass through entity places a qualified vehicle into service but does not have state tax liability against which a tax credit may be applied, a shareholder, partner, or member of the pass through entity may claim a tax credit under this chapter equal to:
(2) the percentage of the pass through entity’s distributive income to which the shareholder, partner, or member is entitled.
(1) the tax credit determined for the pass through entity under this chapter for the taxable year; multiplied by
Terms Used In Indiana Code 6-3.1-34.6-11
- pass through entity: means :
Indiana Code 6-3.1-34.6-4
- qualified vehicle: means a natural gas powered vehicle that:
Indiana Code 6-3.1-34.6-6
- state tax liability: means a person's total tax liability that is incurred under:
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- Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5
(b) The credit provided under subsection (a) is in addition to a tax credit to which a shareholder, partner, or member of a pass through entity is otherwise entitled under this chapter. However, a pass through entity and a shareholder, partner, or member of the pass through entity may not claim more than one (1) credit for the same qualified vehicle placed into service.
As added by P.L.277-2013, SEC.6.