Indiana Code 6-1.1-10-42. Small business incubator program
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Sec. 42. (a) A corporation that is:
(2) participates in the small business incubator program under IC 5-28-21;
(1) nonprofit; and
Terms Used In Indiana Code 6-1.1-10-42
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Property: includes personal and real property. See Indiana Code 1-1-4-5
is exempt from property taxation to the extent of tangible property used for small business incubation.
(b) A corporation that wishes to obtain an exemption from property taxation under this section must file an exemption application under IC 6-1.1-11.
As added by P.L.178-2002, SEC.14. Amended by P.L.4-2005, SEC.35.