Indiana § 6-3.1-11-17 Carryover of excess credit; carryback or refund of unused credit barred

Indiana Statutes

§ 6-3.1-11-17 — Carryover of excess credit; carryback or refund of unused credit barred

Indiana § 6-3.1-11-17

Art. 3.1STATE TAX LIABILITY CREDITS

Ch. 11Industrial Recovery Tax Credit

This text of Indiana § 6-3.1-11-17 (Carryover of excess credit; carryback or refund of unused credit barred) 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 § 6-3.1-11-17 (2026).

Text

(a)If the amount determined under section 16(b) of this chapter for a taxable year exceeds the taxpayer's state tax liability for that taxable year, the taxpayer may carry the excess over to the immediately following taxable years. The amount of the credit carryover from a taxable year shall be reduced to the extent that the carryover is used by the taxpayer to obtain a credit under this chapter for any subsequent taxable year.

(b)A taxpayer is not entitled to a carryback or refund of any unused credit.

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(a) If the amount determined under section
16(b) of this chapter for a taxable year exceeds the taxpayer's state tax
liability for that taxable year, the taxpayer may carry the excess over to
the immediately following taxable years. The amount of the credit
carryover from a taxable year shall be reduced to the extent that the
carryover is used by the taxpayer to obtain a credit under this chapter
for any subsequent taxable year.
(b) A taxpayer is not entitled to a carryback or refund of any unused
credit.