§ 6-3.1-38.1-13 — Assignment of tax credit

Indiana § 6-3.1-38.1-13

• Jurisdiction: Indiana
• Art. 3.1: STATE TAX LIABILITY CREDITS
• Ch. 38.1: Railroad Tax Credit for Qualified Infrastructure

Text

(a) A taxpayer may assign any part of the
credit that the taxpayer may claim under this chapter. A credit that is
assigned under this section remains subject to this chapter. If a taxpayer
assigns a part of a credit during a taxable year, the assignee may not
subsequently assign all or part of the credit to another taxpayer. A
taxpayer may make only one (1) assignment of a credit.
(b) An assignment of a credit must be in writing, and both the
taxpayer and assignee shall report the assignment on the taxpayer's and
assignee's state tax returns for the year in which the assignment is
made, in the manner prescribed by the department. A taxpayer may not
receive value in connection with an assignment under this section that
exceeds the value of the part of the credit assigned.
(c) If the transferor is a tax exempt entity, the transfer must be
completed on or before the date that is one (1) year after the close of
the tax year for which the credit was certified. As used in this
subsection, "tax exempt entity" means a government agency or an
organization that is recognized as exempt under section 501(c)(3) of
the Internal Revenue Code.

Legislative History

As added by P.L.173-2025, SEC.2.