§ 6-3.1-40-6 — Credit; eligibility; amount

Indiana § 6-3.1-40-6

• Jurisdiction: Indiana
• Art. 3.1: STATE TAX LIABILITY CREDITS
• Ch. 40: Physician Practice Ownership Tax Credit

Text

If a taxpayer:
(1) has an ownership interest in a physician owned medical
practice described in section 5(2) of this chapter that:
(A) is established as a legal entity under Indiana law after
December 31, 2023;
(B) opens and begins to provide health care services to patients
in a particular calendar year beginning after December 31,
2023; and
(C) has billed for health care services for at least six (6) months
of a calendar year;
(2) has an ownership interest in the income of the physician
owned medical practice that is at least:
(A) for a physician owned medical practice with not more than
ten (10) owners, five percent (5%) of the physician owned
medical practice's income; and
(B) for a physician owned medical practice with more than ten
(10) owners, fifty percent (50%) of the physician owned
medical practice's income divided by the number of physicians
who own an interest in the physician owned medical practice;
and
(3) provided health care services in the physician owned medical
practice for at least six (6) months of a calendar year;
the taxpayer may, subject to sections 7 and 9.5 of this chapter, claim a
credit against the taxpayer's state income tax liability. Subject to
sections 8 and 11 of this chapter, the amount of the credit allowed
under this chapter for a taxpayer in the particular calendar year is
twenty thousand dollars ($20,000).

Legislative History

As added by P.L.203-2023, SEC.3. Amended by P.L.230-2025, SEC.74.