2017 Indiana Code
TITLE 6. Taxation
ARTICLE 3.1. STATE TAX LIABILITY CREDITS
CHAPTER 24. Venture Capital Investment Tax Credit
6-3.1-24-9. Maximum annual statewide allowance for credits; treatment of credit carryovers; program expiration
Note: This version of section effective until 1-1-2018. See also following version of this section, effective 1-1-2018.
Sec. 9. (a) The total amount of tax credits that may be approved by the corporation under this chapter in a particular calendar year for qualified investment capital provided during that calendar year may not exceed twelve million five hundred thousand dollars ($12,500,000). An amount of an unused credit carried over by a taxpayer from a previous calendar year may not be considered in determining the amount of proposed investments that the Indiana economic development corporation may certify under this chapter.
(b) Notwithstanding the other provisions of this chapter, a taxpayer is not entitled to a credit for providing qualified investment capital to a qualified Indiana business after December 31, 2020. However, this subsection may not be construed to prevent a taxpayer from carrying over to a taxable year beginning after December 31, 2020, an unused tax credit attributable to an investment occurring before January 1, 2021.
As added by P.L.192-2002(ss), SEC.119. Amended by P.L.214-2003, SEC.4; P.L.4-2005, SEC.99; P.L.193-2005, SEC.18; P.L.211-2007, SEC.28; P.L.172-2011, SEC.68; P.L.137-2012, SEC.60; P.L.288-2013, SEC.47; P.L.250-2015, SEC.30.
IC 6-3.1-24-9 Maximum annual statewide allowance for credits; treatment of credit carryovers
Note: This version of section effective 1-1-2018. See also preceding version of this section, effective until 1-1-2018.
Sec. 9. The total amount of tax credits that may be approved by the corporation under this chapter in a particular calendar year for qualified investment capital provided during that calendar year may not exceed twelve million five hundred thousand dollars ($12,500,000). An amount of an unused credit carried over by a taxpayer from a previous calendar year may not be considered in determining the amount of proposed investments that the Indiana economic development corporation may certify under this chapter.
As added by P.L.192-2002(ss), SEC.119. Amended by P.L.214-2003, SEC.4; P.L.4-2005, SEC.99; P.L.193-2005, SEC.18; P.L.211-2007, SEC.28; P.L.172-2011, SEC.68; P.L.137-2012, SEC.60; P.L.288-2013, SEC.47; P.L.250-2015, SEC.30; P.L.237-2017, SEC.43.
