Indiana Code 6-5.5-9-4. Exemption from income taxes
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Sec. 4. (a) A taxpayer who is subject to taxation under this article for a taxable year or part of a taxable year is not, for that taxable year or part of a taxable year, subject to the income taxes imposed by IC 6-3.
(b) The exemption provided for the taxes listed in subsection (a) does not apply to a taxpayer to the extent the taxpayer is acting in a fiduciary capacity.
As added by P.L.347-1989(ss), SEC.1. Amended by P.L.21-1990, SEC.35; P.L.1-1991, SEC.56; P.L.192-2002(ss), SEC.131.
Terms Used In Indiana Code 6-5.5-9-4
- Fiduciary: A trustee, executor, or administrator.
- Taxpayer: means a corporation that is transacting the business of a financial institution in Indiana, including any of the following:
Indiana Code 6-5.5-1-17
- Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5