Indiana Code 6-3.1-40-6. Credit; eligibility; amount
Current as of: 2023 | Check for updates
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Sec. 6. If a taxpayer has an ownership interest in a physician owned medical practice described in section 5(2) of this chapter that:
(2) opens and begins to provide primary health care services to patients in a particular taxable year beginning after December 31, 2023; and
(1) is established as a legal entity under Indiana law after December 31, 2023;
Terms Used In Indiana Code 6-3.1-40-6
- physician: means an individual who is licensed to practice medicine in Indiana under Indiana Code 6-3.1-40-2
- state income tax liability: means the taxpayer's total tax liability that is incurred under IC 6-3-1 through IC 6-3-7 (the adjusted gross income tax), as computed after the application of the credits that, under Indiana Code 6-3.1-40-4
- taxpayer: means an individual who:
Indiana Code 6-3.1-40-5
- Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5
(3) has billed for health care services described in subdivision (2) for at least six (6) months of that taxable year;
the taxpayer may, subject to section 7 of this chapter, claim a credit against the taxpayer’s state income tax liability. Subject to section 8 of this chapter, the amount of the credit allowed under this chapter for a particular taxable year is twenty thousand dollars ($20,000).
As added by P.L.203-2023, SEC.3.