Ind. Code § 36-7-32.5-6

Current through P.L. 171-2024

Section 36-7-32.5-6 - "Income tax base period amount"

As used in this chapter, "income tax base period amount" means the aggregate amount of state adjusted gross income taxes paid:

(1) by employees employed in the territory comprising an innovation development district with respect to wages and salary earned for work in the innovation development district; and

(2) by individuals who are not employees with respect to income received for services performed in the territory comprising an innovation development district;

for the state fiscal year that precedes the date on which the innovation development district was designated under section 9 of this chapter. However, the term does not include state adjusted gross income taxes otherwise attributable to an allocation area listed in section 10(b) of this chapter.

IC 36-7-32.5-6

Amended by P.L. 201-2023,SEC. 274, eff. 7/1/2023.

Added by P.L. 135-2022,SEC. 28, eff. 7/1/2022.