§ 5-28-26-15 — Deadline for calculation of income tax incremental amount; taxpayer reporting

Indiana § 5-28-26-15

• Jurisdiction: Indiana
• Title 5: STATE AND LOCAL ADMINISTRATION
• Art. 28: INDIANA ECONOMIC DEVELOPMENT
• Ch. 26: Global Commerce Center Pilot Program

Text

(a) 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 global commerce center designated
under this chapter.
(b) Taxpayers operating in the global commerce center shall report
annually, in the manner and in the form prescribed by the department,
information that the department determines necessary to calculate the
income tax incremental amount and the gross retail incremental
amount.
(c) A taxpayer operating in the global commerce center that files a
consolidated tax return with the department also shall file annually an
informational return with the department for each business location of
the taxpayer within the global commerce center.
(d) If a taxpayer fails to report the information required by this
section or file an informational return required by this section, the
department shall use the best information available in calculating the
income tax incremental amount and the gross retail incremental
amount.

Legislative History

As added by P.L.203-2005, SEC.2. Amended by P.L.261-2013, SEC.1.