Sec. 15. (a) The corporation shall require the taxpayer to enter into an agreement with the corporation as a condition of receiving a credit under this chapter.

lawyer at desk

Ask a legal question, get an answer ASAP!
Click here to chat with a lawyer about your rights.

Terms Used In Indiana Code 6-3.1-30-15

  • corporate headquarters: means the building or buildings where one (1) or more of the following are located:

    Indiana Code 6-3.1-30-1

  • 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.
  • corporation: refers to the Indiana economic development corporation created under IC 5-28-3 unless the context clearly denotes otherwise. See Indiana Code 6-3.1-30-1.5
  • eligible business: means either of the following:

    Indiana Code 6-3.1-30-2

  • taxpayer: means an individual or entity:

    Indiana Code 6-3.1-30-7

  • Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5
     (b) The agreement with the corporation must:

(1) prescribe the method of certifying the taxpayer’s qualified investment;

(2) include provisions that authorize the corporation to work with the department and the taxpayer, if the corporation determines that the taxpayer is noncompliant with the terms of the agreement or the provisions of this chapter, to bring the taxpayer into compliance or to protect the interests of the state; and

(3) require the taxpayer to:

(A) maintain its corporate headquarters at a location in Indiana if the business qualifies as an eligible business under section 2(1) of this chapter; or

(B) maintain either:

(i) its corporate headquarters at a location in Indiana if the business qualifies as an eligible business under section 2(2) of this chapter; or

(ii) the number of jobs that equals eighty percent (80%) of the business’s total payroll at a location in Indiana if the business qualifies as an eligible business under section 2(2) of this chapter;

for not less than five (5) consecutively succeeding calendar years following the calendar year in which the taxpayer first incurs qualifying relocation expenses.

As added by P.L.158-2019, SEC.27.

  Previous section
Next section  
 Chapter 30 Contents