§ 6-3.1-40.9-9 — Carry forward of credit

Indiana § 6-3.1-40.9-9

• Jurisdiction: Indiana
• Art. 3.1: STATE TAX LIABILITY CREDITS
• Ch. 40.9: Attainable Homeownership Tax Credit

Text

(a) If the credit provided by this chapter
exceeds the taxpayer's state tax liability for the taxable year for which
the credit is first claimed, the excess may be carried forward to
succeeding taxable years and used as a credit against the taxpayer's
state tax liability during those taxable years. Each time the credit is
carried forward to a succeeding taxable year, the credit is reduced by
the amount that was used as a credit during the immediately preceding
taxable year. The credit provided by this chapter may be carried
forward and applied to succeeding taxable years for five (5) taxable
years following the unused credit year.
(b) A taxpayer is not entitled to a carryback or refund of any unused
credit.

Legislative History

As added by P.L.201-2023, SEC.104.