Indiana § 36-7-32.5-18 Determination of gross retail base period amount and income tax base
period amount; tax incremental amount calculations; transfer of tax
incremental amounts

Indiana Statutes

§ 36-7-32.5-18 — Determination of gross retail base period amount and income tax base period amount; tax incremental amount calculations; transfer of tax incremental amounts

Indiana § 36-7-32.5-18

Title 36LOCAL GOVERNMENT

Art. 7PLANNING AND DEVELOPMENT

Ch. 32.5Innovation Development Districts

This text of Indiana § 36-7-32.5-18 (Determination of gross retail base period amount and income tax base period amount; tax incremental amount calculations; transfer of tax incremental amounts) 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 § 36-7-32.5-18 (2026).

Text

(a)Not later than October 1 of the calendar year immediately following the designation date of an innovation development district, the department of state revenue shall set the gross retail base period amount and the income tax base period amount. The department of state revenue may request any information necessary from the corporation and executive, or executives, to determine the gross retail base period amount and the income tax base period amount. Not later than ten (10) days after a request from the department of state revenue, the corporation and executive, or executives, shall provide the necessary information.

(b)Revenue collected under the state adjusted gross income taxes and state gross retail and use taxes may not be allocated under this section before January 1 of the year

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(a) Not later than October 1 of the calendar
year immediately following the designation date of an innovation
development district, the department of state revenue shall set the gross
retail base period amount and the income tax base period amount. The
department of state revenue may request any information necessary
from the corporation and executive, or executives, to determine the
gross retail base period amount and the income tax base period amount.
Not later than ten (10) days after a request from the department of state
revenue, the corporation and executive, or executives, shall provide the
necessary information.
(b) Revenue collected under the state adjusted gross income taxes
and state gross retail and use taxes may not be allocated under this
section before January 1 of the year immediately following the year in
which the gross retail base period amount and the income tax base
period amount are determined under subsection (a).
(c) Before the first business day in October of each year, the
department of state revenue shall calculate the income tax incremental
amount and the gross retail incremental amount for the preceding state
fiscal year for each innovation development district designated under
this chapter.
(d) Taxpayers operating in an innovation development district shall
report annually, in the manner and form prescribed by the department
of state revenue, information that the department of state revenue
determines necessary to calculate the net increment.
(e) A taxpayer operating in an innovation development district that
files a consolidated tax return with the department of state revenue
shall also file annually an informational return with the department of
state revenue for each business location of the taxpayer within the
innovation development district.
(f) If a taxpayer fails to report the information required by this
section or file an informational return required by this section, the
department of state revenue shall use the best information available in
calculating the income tax incremental amount and gross retail
incremental amount.
(g) The department of state revenue shall transfer the amount
calculated as provided in subsection (c) to the applicable local
innovation development district fund established for the innovation
development district under section 19 of this chapter by November 1
of each year.