Indiana § 6-3.1-37.2-7 Credit carryover and carryback

Indiana Statutes

§ 6-3.1-37.2-7 — Credit carryover and carryback

Indiana § 6-3.1-37.2-7

Art. 3.1STATE TAX LIABILITY CREDITS

Ch. 37.2Mine Reclamation Tax Credit

This text of Indiana § 6-3.1-37.2-7 (Credit carryover and carryback) 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 § 6-3.1-37.2-7 (2026).

Text

(a)If the amount determined under section 6(b) of this chapter for a taxable year exceeds the taxpayer's state tax liability for that taxable year, the taxpayer may carry the excess over to the immediately following taxable years. The amount of the credit carryover from a taxable year is reduced to the extent that the carryover is used by the taxpayer to obtain a credit under this chapter for any subsequent taxable year. A credit may not be carried forward for more than ten (10) taxable years following the taxable year in which the taxpayer is first entitled to claim the credit.

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

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(a) If the amount determined under section
6(b) of this chapter for a taxable year exceeds the taxpayer's state tax
liability for that taxable year, the taxpayer may carry the excess over to
the immediately following taxable years. The amount of the credit
carryover from a taxable year is reduced to the extent that the carryover
is used by the taxpayer to obtain a credit under this chapter for any
subsequent taxable year. A credit may not be carried forward for more
than ten (10) taxable years following the taxable year in which the
taxpayer is first entitled to claim the credit.
(b) A taxpayer is not entitled to a carryback or refund of any unused
credit.