Indiana Code 6-3.1-30-16. Noncompliance with agreement; assessments
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Sec. 16. (a) If the corporation determines that a taxpayer who has claimed a credit under this chapter is not entitled to the credit because of the taxpayer’s noncompliance with the requirements of the tax credit agreement or any of the provisions of this chapter, the corporation shall, after giving the taxpayer an opportunity to explain the noncompliance:
(2) request the department to impose an assessment on the taxpayer in an amount that may not exceed the sum of any previously allowed credits under this chapter together with interest and penalties required or permitted by law.
(1) notify the department of the noncompliance; and
Terms Used In Indiana Code 6-3.1-30-16
- 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
- taxpayer: means an individual or entity:
Indiana Code 6-3.1-30-7
(b) The department shall impose an assessment on a taxpayer if requested by the corporation under subsection (a), unless the assessment is unsupported by law.
(c) Notwithstanding the provisions of IC 6-8.1-5-2, an assessment is considered timely if the department issues a proposed assessment:
(1) not later than one hundred eighty (180) days from the date the department is notified of the noncompliance; or
(2) the date on which the proposed assessment could otherwise be issued in a timely manner under IC 6-8.1-5-2;
whichever is later.
As added by P.L.158-2019, SEC.28.