There is a newer version
of
this Section
2017 Indiana Code
TITLE 6. Taxation
ARTICLE 3.1. STATE TAX LIABILITY CREDITS
CHAPTER 24. Venture Capital Investment Tax Credit
6-3.1-24-12. Carryover; unused tax credit
Universal Citation: IN Code § 6-3.1-24-12 (2017)
IC 6-3.1-24-12 Carryover; unused tax credit
Sec. 12. If the amount of the credit determined under section 10 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 credit over for a period not to exceed the taxpayer's following five (5) 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. A taxpayer is not entitled to a carryback or a refund of any unused credit amount.
As added by P.L.192-2002(ss), SEC.119. Amended by P.L.214-2003, SEC.5; P.L.193-2005, SEC.19.
Disclaimer: These codes may not be the most recent version. Indiana may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
