Indiana Code 6-3.1-36-9. Pass through entity; shareholder, partner, or member
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Sec. 9. If a pass through entity is entitled to a credit under section 8 of this chapter but does not have state tax liability against which the tax credit may be applied, a shareholder, partner, member, or beneficiary of the pass through entity is entitled to a tax credit equal to:
(2) the percentage of the pass through entity’s distributive income to which the shareholder, partner, member, or beneficiary is entitled.
(1) the tax credit determined for the pass through entity for the taxable year; multiplied by
Terms Used In Indiana Code 6-3.1-36-9
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- state tax liability: means a taxpayer's total tax liability that is incurred under:
Indiana Code 6-3.1-36-5
- Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5
As added by P.L.135-2022, SEC.19.