Indiana § 36-7-32.5-7 "Income tax incremental amount"

Indiana Statutes

§ 36-7-32.5-7 — "Income tax incremental amount"

Indiana § 36-7-32.5-7

Title 36LOCAL GOVERNMENT

Art. 7PLANNING AND DEVELOPMENT

Ch. 32.5Innovation Development Districts

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Bluebook

Ind. Code § 36-7-32.5-7 (2026).

Text

As used in this chapter, "income tax incremental amount" means the remainder of:

(1)the total amount of state adjusted gross income taxes paid:

(A)by employees employed in the territory comprising the innovation development district with respect to wages and salary earned for work in the territory comprising the innovation development district; and

(B)by individuals who are not employees with respect to income received for services performed in the territory comprising an innovation development district; for a particular state fiscal year that are not otherwise attributable to an allocation area listed in section 10(b) of this chapter; minus

(2)the sum of the:

(A)income tax base period amount; plus

(B)tax credits awarded by the Indiana economic development corporation under IC 6-3.1-

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As used in this chapter, "income tax
incremental amount" means the remainder of:
(1) the total amount of state adjusted gross income taxes paid:
(A) by employees employed in the territory comprising the
innovation development district with respect to wages and
salary earned for work in the territory comprising the
innovation development district; and
(B) by individuals who are not employees with respect to
income received for services performed in the territory
comprising an innovation development district;
for a particular state fiscal year that are not otherwise attributable
to an allocation area listed in section 10(b) of this chapter; minus
(2) the sum of the:
(A) income tax base period amount; plus
(B) tax credits awarded by the Indiana economic development
corporation under IC 6-3.1-13 to businesses operating in an
innovation development district as the result of wages earned
for work in the innovation development district for the state
fiscal year;
as determined by the department of state revenue.