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2017 Indiana Code
TITLE 6. Taxation
ARTICLE 3.1. STATE TAX LIABILITY CREDITS
CHAPTER 24. Venture Capital Investment Tax Credit
6-3.1-24-11. Pass through entity; eligibility of owners, shareholders, or members for credit
Universal Citation: IN Code § 6-3.1-24-11 (2017)
IC 6-3.1-24-11 Pass through entity; eligibility of owners, shareholders, or members for credit
Sec. 11. If a pass through entity is entitled to a credit under section 6 of this chapter but does not have state tax liability against which the tax credit may be applied, a shareholder, partner, or member of the pass through entity is entitled to a tax credit equal to:
(1) the tax credit determined for the pass through entity for the taxable year; multiplied by
(2) the percentage of the pass through entity's distributive income to which the shareholder, partner, or member is entitled.
As added by P.L.192-2002(ss), SEC.119.
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