Indiana Code 6-3.1-40.9-10. Shareholder, partner, or member entitled to credit
Current as of: 2023 | Check for updates
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Sec. 10. If a pass through entity is entitled to a credit under section 7 of this chapter but does not have state tax liability against which the tax credit may be applied, a shareholder, partner, or member of the pass through entity is entitled to a tax credit 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 for the taxable year; multiplied by
Terms Used In Indiana Code 6-3.1-40.9-10
- credit: refers to a credit granted under this chapter. See Indiana Code 6-3.1-40.9-3
- pass through entity: has the meaning set forth in IC 6-3-1-35. See Indiana Code 6-3.1-40.9-4
- state tax liability: means a taxpayer's total tax liability that is incurred under:
Indiana Code 6-3.1-40.9-5
- Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5
As added by P.L.201-2023, SEC.104.