Indiana § 6-3.1-22-8 Entitlement to credit

Indiana Statutes

§ 6-3.1-22-8 — Entitlement to credit

Indiana § 6-3.1-22-8

Art. 3.1STATE TAX LIABILITY CREDITS

Ch. 22Residential Historic Rehabilitation Credit

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Bluebook

Ind. Code § 6-3.1-22-8 (2026).

Text

(a)Subject to section 14 of this chapter, and except as provided in section 15.5 of this chapter, a taxpayer is entitled to a credit against the taxpayer's state tax liability in the taxable year in which the taxpayer completes the preservation or rehabilitation of historic property and obtains the certifications required under section 9 of this chapter.

(b)The amount of the credit is equal to the lesser of ten thousand dollars ($10,000) or twenty percent (20%) of the qualified expenditures that:

(1)the taxpayer makes for the preservation or rehabilitation of historic property; and

(2)are approved by the office.

(c)In the case of a husband and wife who:

(1)own and rehabilitate a historic property jointly; and

(2)file separate tax returns; the husband and wife may take the credit in

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(a) Subject to section 14 of this chapter, and
except as provided in section 15.5 of this chapter, a taxpayer is entitled
to a credit against the taxpayer's state tax liability in the taxable year in
which the taxpayer completes the preservation or rehabilitation of
historic property and obtains the certifications required under section
9 of this chapter.
(b) The amount of the credit is equal to the lesser of ten thousand
dollars ($10,000) or twenty percent (20%) of the qualified expenditures
that:
(1) the taxpayer makes for the preservation or rehabilitation of
historic property; and
(2) are approved by the office.
(c) In the case of a husband and wife who:
(1) own and rehabilitate a historic property jointly; and
(2) file separate tax returns;
the husband and wife may take the credit in equal shares or one (1)
spouse may take the whole credit.