Indiana § 6-3.1-38-7 Maximum amount of credit; approval of claims

Indiana Statutes

§ 6-3.1-38-7 — Maximum amount of credit; approval of claims

Indiana § 6-3.1-38-7

Art. 3.1STATE TAX LIABILITY CREDITS

Ch. 38Health Reimbursement Arrangement Credit

This text of Indiana § 6-3.1-38-7 (Maximum amount of credit; approval of claims) 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 § 6-3.1-38-7 (2026).

Text

(a)The amount of tax credits granted under this chapter may not exceed ten million dollars ($10,000,000) in any taxable year.

(b)The department shall record the time of filing of each return claiming a credit under section 6 of this chapter and shall approve the claims if they otherwise qualify for a tax credit under this chapter, in the chronological order in which the claims are filed in the state fiscal year.

(c)The department may not approve a claim for a tax credit after the date on which the total credits approved under this section equal the maximum amount allowable in a particular state fiscal year.

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(a) The amount of tax credits granted under
this chapter may not exceed ten million dollars ($10,000,000) in any
taxable year.
(b) The department shall record the time of filing of each return
claiming a credit under section 6 of this chapter and shall approve the
claims if they otherwise qualify for a tax credit under this chapter, in
the chronological order in which the claims are filed in the state fiscal
year.
(c) The department may not approve a claim for a tax credit after the
date on which the total credits approved under this section equal the
maximum amount allowable in a particular state fiscal year.