§ 6-3.1-45-8 — Carryover of excess credit; taxpayer not entitled to carryback or refund

Indiana § 6-3.1-45-8

• Jurisdiction: Indiana
• Art. 3.1: STATE TAX LIABILITY CREDITS
• Ch. 45: Small Modular Nuclear Reactor Manufacturing

Text

(a) If the amount determined under section 7
of this chapter for a taxpayer in a taxable year exceeds the taxpayer's
state tax liability for that taxable year, the taxpayer may carry the
excess over to the following taxable years. The amount of the credit
carryover from a taxable year shall be reduced to the extent that the
carryover is used by the taxpayer to obtain a credit under this chapter
for any subsequent taxable year.
(b) A taxpayer is not entitled to a carryback or refund of any unused
credit.

Legislative History

As added by P.L.217-2025, SEC.1.