Indiana § 6-3.1-38.1-10 Amount of tax credit; pass through entities

Indiana Statutes

§ 6-3.1-38.1-10 — Amount of tax credit; pass through entities

Indiana § 6-3.1-38.1-10

Art. 3.1STATE TAX LIABILITY CREDITS

Ch. 38.1Railroad Tax Credit for Qualified Infrastructure

This text of Indiana § 6-3.1-38.1-10 (Amount of tax credit; pass through entities) 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 § 6-3.1-38.1-10 (2026).

Text

(a)If a pass through entity is entitled to a credit under section 9 of this chapter but does not have state tax liability against which the credit may be applied, a shareholder, partner, or member of the pass through entity is entitled to a credit equal to:

(1)the credit determined for the pass through entity for the taxable year; multiplied by

(2)the percentage of the pass through entity's distributive income to which the shareholder, partner, or member is entitled.

(b)The credit provided under subsection (a) is in addition to a credit to which a shareholder, partner, or member of a pass through entity is otherwise entitled under this chapter. However, a pass through entity and a shareholder, partner, or member of the pass through entity may not claim more than one (1) credit for the

Free access — add to your briefcase to read the full text and ask questions with AI

(a) If a pass through entity is entitled to a
credit under section 9 of this chapter but does not have state tax
liability against which the credit may be applied, a shareholder, partner,
or member of the pass through entity is entitled to a credit equal to:
(1) the credit determined for the pass through entity for the
taxable year; multiplied by
(2) the percentage of the pass through entity's distributive income
to which the shareholder, partner, or member is entitled.
(b) The credit provided under subsection (a) is in addition to a credit
to which a shareholder, partner, or member of a pass through entity is
otherwise entitled under this chapter. However, a pass through entity
and a shareholder, partner, or member of the pass through entity may
not claim more than one (1) credit for the same qualified railroad
expenditure or qualified new rail infrastructure expenditure.