Ind. Code § 6-3.1-7-1

Current through P.L. 171-2024

Section 6-3.1-7-1 - Definitions

As used in this chapter:

"Enterprise zone" means an enterprise zone created under IC 5-28-15.

"Pass through entity" means a:

(1) corporation that is exempt from the adjusted gross income tax under IC 6-3-2-2.8(2);

(2) partnership;

(3) trust;

(4) limited liability company; or

(5) limited liability partnership.

"Qualified loan" means a loan made to an entity that uses the loan proceeds for:

(1) a purpose that is directly related to a business located in an enterprise zone;

(2) an improvement that increases the assessed value of real property located in an enterprise zone; or

(3) rehabilitation, repair, or improvement of a residence.

"State tax liability" means a taxpayer's total tax liability that is incurred under:

(1) IC 6-3-1 through IC 6-3-7 (the adjusted gross income tax);

(2) IC 27-1-18-2 (the insurance premiums tax) or IC 6-8-15 (the nonprofit agricultural organization health coverage tax); and

(3) IC 6-5.5 (the financial institutions tax);

as computed after the application of the credits that, under IC 6-3.1-1-2, are to be applied before the credit provided by this chapter.

"Taxpayer" means any person, corporation, limited liability company, partnership, or other entity that has any state tax liability. The term includes a pass through entity.

IC 6-3.1-7-1

Amended by P.L. 154-2020,SEC. 11, eff. 7/1/2020.

As added by P.L. 51-1984, SEC.1. Amended by P.L. 9-1986, SEC.7; P.L. 80-1989, SEC.8; P.L. 347-1989 (ss), SEC.15; P.L. 8-1993, SEC.87; P.L. 120-1999, SEC.4; P.L. 192-2002 (ss), SEC.97; P.L. 4-2005, SEC.51.