Indiana § 36-7-32-8.5 "Income tax incremental amount"

Indiana Statutes

§ 36-7-32-8.5 — "Income tax incremental amount"

Indiana § 36-7-32-8.5

Title 36LOCAL GOVERNMENT

Art. 7PLANNING AND DEVELOPMENT

Ch. 32Certified Technology Parks

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Bluebook

Ind. Code § 36-7-32-8.5 (2026).

Text

5. As used in this chapter, "income tax incremental amount" means the following:

(1)Except as provided in subdivision (2), the remainder of:

(A)the total amount of state adjusted gross income taxes and local income taxes paid by employees employed in the territory comprising the certified technology park with respect to wages and salary earned for work in the territory comprising the certified technology park for a particular state fiscal year; minus

(B)the sum of the:

(i)income tax base period amount as defined in section 8 of this chapter; and

(ii)tax credits awarded by the Indiana economic development corporation under IC 6-3.1-13 to businesses operating in a certified technology park as the result of wages earned for work in the certified technology park for the state fiscal year;

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5. As used in this chapter, "income tax
incremental amount" means the following:
(1) Except as provided in subdivision (2), the remainder of:
(A) the total amount of state adjusted gross income taxes and
local income taxes paid by employees employed in the territory
comprising the certified technology park with respect to wages
and salary earned for work in the territory comprising the
certified technology park for a particular state fiscal year; minus
(B) the sum of the:
(i) income tax base period amount as defined in section 8 of
this chapter; and
(ii) tax credits awarded by the Indiana economic development
corporation under IC 6-3.1-13 to businesses operating in a
certified technology park as the result of wages earned for
work in the certified technology park for the state fiscal year;
as determined by the department of state revenue.
(2) In the case of a certified technology park for which the amount
limit under section 22(c) or 22(d) of this chapter has been
exceeded, the remainder of:
(A) the total amount of state adjusted gross income taxes and
local income taxes paid by employees employed in the territory
comprising the certified technology park with respect to wages
and salary earned for work in the territory comprising the
certified technology park for a particular state fiscal year; minus
(B) the sum of the:
(i) income tax base period amount as defined in section 8 of
this chapter; and
(ii) tax credits awarded by the Indiana economic development
corporation under IC 6-3.1-13 to businesses operating in a
certified technology park as the result of wages earned for
work in the certified technology park for the state fiscal year;
as determined by the department of state revenue.