Ind. Code § 6-3.1-40.9-10

Current through P.L. 171-2024

Section 6-3.1-40.9-10 - Shareholder, partner, or member entitled to credit

If a pass through entity is entitled to a credit under section 7 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.

IC 6-3.1-40.9-10

Added by P.L. 201-2023,SEC. 104, eff. 1/1/2024.