Indiana § 6-3.1-13-19 Agreement for tax credit with respect to job creation; requirements

Indiana Statutes

§ 6-3.1-13-19 — Agreement for tax credit with respect to job creation; requirements

Indiana·Art. 3.1 STATE TAX LIABILITY CREDITS·Ch. 13 Economic Development for a Growing Economy Tax

In the case of a credit awarded for a project to create new jobs in Indiana, the corporation shall enter into an agreement with an applicant that is awarded a credit under this chapter. The agreement must include all of the following:

(1)A detailed description of the project that is the subject of the agreement.

(2)The duration of the tax credit and the first taxable year for which the credit may be claimed.

(3)The credit amount that will be allowed for each taxable year.

(4)A requirement that the taxpayer shall maintain operations at the project location for at least two (2) years following the last taxable year in which the applicant claims the tax credit or carries over an unused part of the tax credit under section 18 of this chapter. A taxpayer is subject to an assessment under se

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In the case of a credit awarded for a project
to create new jobs in Indiana, the corporation shall enter into an
agreement with an applicant that is awarded a credit under this chapter.
The agreement must include all of the following:
(1) A detailed description of the project that is the subject of the
agreement.
(2) The duration of the tax credit and the first taxable year for
which the credit may be claimed.
(3) The credit amount that will be allowed for each taxable year.
(4) A requirement that the taxpayer shall maintain operations at
the project location for at least two (2) years following the last
taxable year in which the applicant claims the tax credit or carries
over an unused part of the tax credit under section 18 of this
chapter. A taxpayer is subject to an assessment under section 22
of this chapter for noncompliance with the requirement described
in this subdivision.
(5) A specific method for determining the number of new
employees employed during a taxable year who are performing
jobs not previously performed by an employee.
(6) A requirement that the taxpayer shall annually report to the
corporation the number of new employees who are performing
jobs not previously performed by an employee, the new income
tax revenue withheld in connection with the new employees, and
any other information the corporation needs to perform the
corporation's duties under this chapter.
(7) A requirement that the corporation is authorized to verify with
the appropriate state agencies the amounts reported under
subdivision (6), and after doing so shall issue a certificate to the
taxpayer stating that the amounts have been verified.
(8) A requirement that the taxpayer shall provide written
notification to the corporation not more than thirty (30) days after
the taxpayer makes or receives a proposal that would transfer the
taxpayer's state tax liability obligations to a successor taxpayer.
(9) Any other performance conditions that the corporation
determines are appropriate.

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