Indiana Code 6-3.1-24-6. Credit; eligibility
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Sec. 6. A taxpayer that:
(2) fulfills the requirements of the Indiana economic development corporation under section 12.5 of this chapter;
(1) provides qualified investment capital to a qualified Indiana business or a qualified Indiana investment fund; and
Terms Used In Indiana Code 6-3.1-24-6
- 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.
- qualified Indiana business: means an independently owned and operated business that is certified as a qualified Indiana business by the Indiana economic development corporation under section 7 of this chapter. See Indiana Code 6-3.1-24-2
- qualified Indiana investment fund: means any private fund that meets the definition of a venture capital fund in 17 C. See Indiana Code 6-3.1-24-2.5
- qualified investment capital: means debt or equity capital that is provided to a qualified Indiana business or a qualified Indiana investment fund after December 31, 2003. See Indiana Code 6-3.1-24-3
- state tax liability: means a taxpayer's total tax liability that is incurred under:
Indiana Code 6-3.1-24-4
- taxpayer: means an individual or entity, including a pass through entity, that has any state tax liability. See Indiana Code 6-3.1-24-5
- Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5
is entitled to a credit against the taxpayer’s state tax liability in a taxable year equal to the amount specified in section 8 or 8.5 of this chapter, whichever is applicable.
As added by P.L.192-2002(ss), SEC.119. Amended by P.L.214-2003, SEC.2; P.L.4-2005, SEC.97; P.L.165-2021, SEC.79.