Indiana Code 4-10-23-8. “Income tax incremental amount”
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Sec. 8. As used in this chapter, “income tax incremental amount” means the remainder of:
(2) the income tax base period amount.
(1) the aggregate amount of state adjusted gross income taxes paid or remitted during a calendar year with respect to income earned or attributable to the taxpayer’s activities in the district; minus
Terms Used In Indiana Code 4-10-23-8
- district: refers to a motorsports investment district established under Indiana Code 4-10-23-4
- income tax base period amount: means the aggregate amount of state adjusted gross income taxes paid or remitted by or on behalf of a taxpayer during the calendar year of 2012 with respect to income earned or attributable to the taxpayer's activities in the district. See Indiana Code 4-10-23-7
- Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
- Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5
As added by P.L.233-2013, SEC.4. Amended by P.L.190-2014, SEC.4.