Section 6-3.1-39.5-10 - Carry forward of credit(a) If the amount of the credit determined under section 8(b) 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 eligible taxpayer's following three (3) 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.(b) A taxpayer may not assign any part of a credit to which the taxpayer is entitled under this chapter.Added by P.L. 201-2023,SEC. 103, eff. 1/1/2024.