Indiana § 6-3.1-34-13 Credit carryover

Indiana Statutes

§ 6-3.1-34-13 — Credit carryover

Indiana § 6-3.1-34-13

Art. 3.1STATE TAX LIABILITY CREDITS

Ch. 34Redevelopment Tax Credit

This text of Indiana § 6-3.1-34-13 (Credit carryover) 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 § 6-3.1-34-13 (2026).

Text

(a)If the amount of the credit determined under section 11 of this chapter for a taxpayer in a taxable year exceeds the taxpayer's state tax liability for that taxable year, the taxpayer may carry the excess credit over for a period not to exceed the taxpayer's following nine (9) taxable years, beginning with the taxable year after the year in which the corporation certifies the taxpayer's expenditures as a qualified investment. The amount of the credit carryover from a taxable year shall be reduced to the extent that the carryover is used by the taxpayer to obtain a credit under this chapter for any subsequent taxable year.

(b)A taxpayer is not entitled to a carryback or a refund of any unused credit amount.

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(a) If the amount of the credit determined
under section 11 of this chapter for a taxpayer in a taxable year exceeds
the taxpayer's state tax liability for that taxable year, the taxpayer may
carry the excess credit over for a period not to exceed the taxpayer's
following nine (9) taxable years, beginning with the taxable year after
the year in which the corporation certifies the taxpayer's expenditures
as a qualified investment. The amount of the credit carryover from a
taxable year shall be reduced to the extent that the carryover is used by
the taxpayer to obtain a credit under this chapter for any subsequent
taxable year.
(b) A taxpayer is not entitled to a carryback or a refund of any
unused credit amount.