Indiana Code 6-3.1-11-21. Disqualification to claim credit due to substantial reduction or cessation of operations in Indiana; determination
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Terms Used In Indiana Code 6-3.1-11-21
- industrial recovery site: means land on which a vacant plant having at least one hundred thousand (100,000) square feet of total floor space:
Indiana Code 6-3.1-11-5
- taxpayer: means any person, corporation, limited liability company, partnership, or other entity that has any state tax liability and that is the owner or developer of an industrial recovery site. See Indiana Code 6-3.1-11-13
- Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5
Sec. 21. A taxpayer is not entitled to claim the credit provided by this chapter if the corporation determines that the taxpayer has substantially reduced or ceased its operations in Indiana in order to relocate them within the industrial recovery site. A determination that a taxpayer is not entitled to the credit provided by this chapter as a result of a substantial reduction or cessation of operations applies to credits that would otherwise arise in the taxable year in which the substantial reduction or cessation occurs and in all subsequent years.
As added by P.L.379-1987(ss), SEC.11. Amended by P.L.288-2013, SEC.42.