Indiana Code 6-3.1-24-1. “Pass through entity” defined

Sec. 1. As used in this chapter, “pass through entity” means:

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

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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.
Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.

(2) a partnership;

(3) a limited liability company; or

(4) a limited liability partnership.

As added by P.L.192-2002(ss), SEC.119.