Indiana § 6-3.1-13-20 Claiming credit; election to receive payment in lieu of credit;
submission of required information to department of state revenue

Indiana Statutes

§ 6-3.1-13-20 — Claiming credit; election to receive payment in lieu of credit; submission of required information to department of state revenue

Indiana § 6-3.1-13-20

Art. 3.1STATE TAX LIABILITY CREDITS

Ch. 13Economic Development for a Growing Economy Tax

This text of Indiana § 6-3.1-13-20 (Claiming credit; election to receive payment in lieu of credit; submission of required information to department of state revenue) 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 § 6-3.1-13-20 (2026).

Text

(a)Except as provided in subsection (b), a taxpayer claiming a credit under this chapter must claim the credit on the taxpayer's annual state tax return or returns in the manner prescribed by the department of state revenue. The taxpayer shall submit to the department of state revenue all information that the department determines necessary for the calculation of the credit provided by this chapter and the determination of whether the credit was properly claimed.

(b)Notwithstanding subsection (a), if a taxpayer is entitled to a credit under this chapter, the taxpayer may, with the approval of the corporation, elect to forgo claiming the credit against any state tax liability and submit the credit to the department with a request to receive a payment from the corporation, to be paid from

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(a) Except as provided in subsection (b), a
taxpayer claiming a credit under this chapter must claim the credit on
the taxpayer's annual state tax return or returns in the manner
prescribed by the department of state revenue. The taxpayer shall
submit to the department of state revenue all information that the
department determines necessary for the calculation of the credit
provided by this chapter and the determination of whether the credit
was properly claimed.
(b) Notwithstanding subsection (a), if a taxpayer is entitled to a
credit under this chapter, the taxpayer may, with the approval of the
corporation, elect to forgo claiming the credit against any state tax
liability and submit the credit to the department with a request to
receive a payment from the corporation, to be paid from funds
appropriated to the corporation for business promotion and innovation
that is equal to the credit for that taxable year as provided in IC 6-3-5-5.