Indiana Code 6-3.1-37.2-12. Application of credit against taxpayer’s taxes
Current as of: 2023 | Check for updates
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Sec. 12. (a) A credit to which a taxpayer is entitled under this chapter shall be applied against taxes owed by the taxpayer in the following order:
(2) Against the taxpayer’s insurance premiums tax liability (IC 27-1-18-2) for the taxable year.
(1) Against the taxpayer’s adjusted gross income tax liability (IC 6-3-1 through IC 6-3-7) for the taxable year.
Terms Used In Indiana Code 6-3.1-37.2-12
- taxpayer: means any person, corporation, limited liability company, partnership, or other entity that has any state tax liability and that is the owner or developer of a mine reclamation site. See Indiana Code 6-3.1-37.2-5
- Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5
(3) Against the taxpayer’s financial institutions tax (IC 6-5.5) for the taxable year.
(b) Whenever the tax paid by the taxpayer under any of the tax provisions listed in subsection (a) is a credit against the liability or a deduction in determining the tax base under another Indiana tax provision, the credit or deduction shall be computed without regard to the credit to which a taxpayer is entitled under this chapter.
As added by P.L.214-2023, SEC.2.