Indiana § 6-3.1-39.5-12 Payment of recapture amount; change of ownership

Indiana Statutes

§ 6-3.1-39.5-12 — Payment of recapture amount; change of ownership

Indiana § 6-3.1-39.5-12

Art. 3.1STATE TAX LIABILITY CREDITS

Ch. 39.5Employer Child Care Expenditure Credits

This text of Indiana § 6-3.1-39.5-12 (Payment of recapture amount; change of ownership) 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 § 6-3.1-39.5-12 (2026).

Text

(a)If a recapture event occurs with respect to an Indiana qualified child care facility within five (5) years after the end of the taxable year in which a credit was allowed, the taxpayer is responsible for payment to the department of a recapture amount. The recapture amount is equal to the following:

(1)One hundred percent (100%) of the credit after the end of the first taxable year in which the credit was allowed.

(2)Eighty percent (80%) of the credit after the end of the second taxable year in which the credit was allowed.

(3)Sixty percent (60%) of the credit after the end of the third taxable year in which the credit was allowed.

(4)Forty percent (40%) of the credit after the end of the fourth taxable year in which the credit was allowed.

(5)Twenty percent (20%) of the credit af

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(a) If a recapture event occurs with respect
to an Indiana qualified child care facility within five (5) years after the
end of the taxable year in which a credit was allowed, the taxpayer is
responsible for payment to the department of a recapture amount. The
recapture amount is equal to the following:
(1) One hundred percent (100%) of the credit after the end of the
first taxable year in which the credit was allowed.
(2) Eighty percent (80%) of the credit after the end of the second
taxable year in which the credit was allowed.
(3) Sixty percent (60%) of the credit after the end of the third
taxable year in which the credit was allowed.
(4) Forty percent (40%) of the credit after the end of the fourth
taxable year in which the credit was allowed.
(5) Twenty percent (20%) of the credit after the end of the fifth
taxable year in which the credit was allowed.
(b) Any recapture tax liability must be reported by the taxpayer on
the taxpayer's annual state income tax return for the taxable year during
which the use was converted.
(c) A recapture event is not considered to have occurred as a result
of a change in ownership of an Indiana qualified child care facility for
which a credit was allowed under this chapter if, before the change in
ownership transaction is completed, the person acquiring an interest in
the facility agrees in writing to assume the liability of the taxpayer for
any recapture amount that becomes owed. In the event of such an
assumption, the person acquiring the interest in the facility shall be
treated as the taxpayer for purposes of assessing any recapture liability
that becomes owed due to a subsequent recapture event, computed as
if there had been no change in ownership, and is responsible for
payment to the department of the recapture amount.