Indiana § 6-3.1-30-11 Carryover; unused tax credit; refundable at the discretion of the
corporation

Indiana Statutes

§ 6-3.1-30-11 — Carryover; unused tax credit; refundable at the discretion of the corporation

Indiana § 6-3.1-30-11

Art. 3.1STATE TAX LIABILITY CREDITS

Ch. 30Headquarters Relocation Tax Credit

This text of Indiana § 6-3.1-30-11 (Carryover; unused tax credit; refundable at the discretion of the corporation) 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 § 6-3.1-30-11 (2026).

Text

(a)If the credit provided by this chapter exceeds the taxpayer's state tax liability for the taxable year for which the credit is first claimed, the excess may be carried forward to succeeding taxable years and used as a credit against the taxpayer's state tax liability during those taxable years. Each time that the credit is carried forward to a succeeding taxable year, the credit is to be reduced by the amount that was used as a credit during the immediately preceding taxable year. The credit provided by this chapter may be carried forward and applied to succeeding taxable years for nine (9) taxable years following the unused credit year.

(b)A taxpayer that qualifies as an eligible business under section 2(1) of this chapter is not entitled to any carryback or refund of any unused cred

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(a) If the credit provided by this chapter
exceeds the taxpayer's state tax liability for the taxable year for which
the credit is first claimed, the excess may be carried forward to
succeeding taxable years and used as a credit against the taxpayer's
state tax liability during those taxable years. Each time that the credit
is carried forward to a succeeding taxable year, the credit is to be
reduced by the amount that was used as a credit during the immediately
preceding taxable year. The credit provided by this chapter may be
carried forward and applied to succeeding taxable years for nine (9)
taxable years following the unused credit year.
(b) A taxpayer that qualifies as an eligible business under section
2(1) of this chapter is not entitled to any carryback or refund of any
unused credit.
(c) In the case of a taxpayer that qualifies as an eligible business
under section 2(2) of this chapter, if the credit provided by this chapter
exceeds the taxpayer's state tax liability, the excess may, at the
discretion of the corporation, be refunded to the taxpayer. An eligible
business under section 2(2) of this chapter is not entitled to carryback
any unused credit.