Indiana § 27-8-10-2.4 Tax credits

Indiana Statutes

§ 27-8-10-2.4 — Tax credits

Indiana § 27-8-10-2.4

Title 27INSURANCE

Art. 8LIFE, ACCIDENT, AND HEALTH

Ch. 10Comprehensive Health Insurance

This text of Indiana § 27-8-10-2.4 (Tax credits) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 27-8-10-2.4 (2026).

Text

4.

(a)Beginning January 1, 2005, a member that, before January 1, 2005, has:

(1)paid an assessment; and

(2)not taken a credit against taxes; under section 2.1 of this chapter (as in effect December 31, 2004) is not entitled to claim or carry forward the unused tax credit except as provided in this section.

(b)A member described in subsection (a) may, for each taxable year beginning after December 31, 2006, take a credit of not more than ten percent (10%) of the amount of the assessments paid before January 1, 2005, against which a tax credit has not been taken before January 1, 2005. A credit under this subsection may be taken against premium taxes, adjusted gross income taxes, or any combination of these, or similar taxes upon revenues or income of the member that may be imposed by th

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4. (a) Beginning January 1, 2005, a member
that, before January 1, 2005, has:
(1) paid an assessment; and
(2) not taken a credit against taxes;
under section 2.1 of this chapter (as in effect December 31, 2004) is not
entitled to claim or carry forward the unused tax credit except as
provided in this section.
(b) A member described in subsection (a) may, for each taxable year
beginning after December 31, 2006, take a credit of not more than ten
percent (10%) of the amount of the assessments paid before January 1,
2005, against which a tax credit has not been taken before January 1,
2005. A credit under this subsection may be taken against premium
taxes, adjusted gross income taxes, or any combination of these, or
similar taxes upon revenues or income of the member that may be
imposed by the state, up to the amount of the taxes due for each taxable
year.
(c) If the maximum amount of a tax credit determined under
subsection (b) for a taxable year exceeds a member's liability for the
taxes described in subsection (b), the member may carry the unused
portion of the tax credit forward to subsequent taxable years. Tax
credits carried forward under this subsection are not subject to the ten
percent (10%) limit set forth in subsection (b).
(d) The total amount of credits taken by a member under this section
in all taxable years may not exceed the total amount of assessments
paid by the member before January 1, 2005, minus the total amount of
tax credits taken by the member under section 2.1 of this chapter (as in
effect December 31, 2004) before January 1, 2005.