Indiana Statutes
§ 12-15-7-5 — Retention of amount equal to individual's state and local income tax liability; monthly limitation; exemption from income eligibility consideration; use of amount retained
(a)In addition to the amount that may be
retained as a personal allowance under this chapter, an individual is
allowed to retain an amount equal to the individual's state and local
income tax liability.
(b)The amount that may be retained during a month may not exceed
one-third (1/3) of the individual's state and local income tax liability for
the calendar quarter in which the month occurs. This amount is exempt
from income eligibility consideration by the office.
(c)The amount retained under this section must be used by the
individual to pay any state or local income taxes owed.
[Pre-1992 Revision Citation: 12-1-7-21(d).]
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Indiana § 12-15-7-5 (Retention of amount equal to individual's state and local income tax liability; monthly limitation; exemption from income eligibility consideration; use of amount retained) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
As added by P.L.2-1992, SEC.9.
Nearby Sections
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