Indiana § 6-3-4.5-12 Irrevocable election; no deduction or credit; other state or local tax
jurisdictions

Indiana Statutes

§ 6-3-4.5-12 — Irrevocable election; no deduction or credit; other state or local tax jurisdictions

Indiana § 6-3-4.5-12

Art. 3STATE INCOME TAXES

Ch. 4.5Partnership Audit and Administrative Adjustments

This text of Indiana § 6-3-4.5-12 (Irrevocable election; no deduction or credit; other state or local tax jurisdictions) 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 § 6-3-4.5-12 (2026).

Text

(a)The election made pursuant to section 9(c) of this chapter is irrevocable unless the department, in its discretion, determines otherwise.

(b)If properly reported and paid by the audited partnership or tiered partner, the amount determined under section 9(c)(2) of this chapter or similarly under an optional election under section 11 of this chapter, will be treated as paid in lieu of taxes owed by its direct and indirect partners, to the extent applicable, on the same final federal adjustments. The direct partners or indirect partners may not take any deduction or credit for this amount or claim a refund of the amount in this state. However, nothing in this subsection shall preclude a direct partner from claiming a credit for any amounts paid by the audited partnership or tiered partne

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(a) The election made pursuant to section
9(c) of this chapter is irrevocable unless the department, in its
discretion, determines otherwise.
(b) If properly reported and paid by the audited partnership or tiered
partner, the amount determined under section 9(c)(2) of this chapter or
similarly under an optional election under section 11 of this chapter,
will be treated as paid in lieu of taxes owed by its direct and indirect
partners, to the extent applicable, on the same final federal
adjustments. The direct partners or indirect partners may not take any
deduction or credit for this amount or claim a refund of the amount in
this state. However, nothing in this subsection shall preclude a direct
partner from claiming a credit for any amounts paid by the audited
partnership or tiered partner on the direct partner's behalf to another
state or local tax jurisdiction in accordance with provisions in IC 6-3-3-3 and IC 6-3.6-8-6.
(c) If the department determines that a partnership made an election
under section 9(c) of this chapter that was improper with regard to one
(1) or more partners or adjustments, the department may treat the
election as invalid with regard to the partners or adjustments and treat
any tax applicable to such partners as tax withheld by the partnership
on any affected partner's behalf.