Indiana § 6-3.1-18-6 Credit; amount; calculation; application

Indiana Statutes

§ 6-3.1-18-6 — Credit; amount; calculation; application

Indiana § 6-3.1-18-6

Art. 3.1STATE TAX LIABILITY CREDITS

Ch. 18Individual Development Account Tax Credit

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Bluebook

Ind. Code § 6-3.1-18-6 (2026).

Text

(a)Subject to the limitations provided in subsection (b) and sections 7, 8, 9, 10, and 11 of this chapter, the department shall grant a tax credit against any state tax liability due equal to fifty percent (50%) of the amount of a qualified contribution made in a taxable year by a business firm or person if the qualified contribution is not less than one hundred dollars ($100) and not more than fifty thousand dollars ($50,000).

(b)The credit provided by this chapter shall only be applied against any state tax liability owed by the taxpayer after the application of any credits that under IC 6-3.1-1-2 must be applied before the credit provided by this chapter.

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(a) Subject to the limitations provided in
subsection (b) and sections 7, 8, 9, 10, and 11 of this chapter, the
department shall grant a tax credit against any state tax liability due
equal to fifty percent (50%) of the amount of a qualified contribution
made in a taxable year by a business firm or person if the qualified
contribution is not less than one hundred dollars ($100) and not more
than fifty thousand dollars ($50,000).
(b) The credit provided by this chapter shall only be applied against
any state tax liability owed by the taxpayer after the application of any
credits that under IC 6-3.1-1-2 must be applied before the credit
provided by this chapter.