§ 6-3.1-18-0.3 “Authority”
§ 6-3.1-18-0.5 “Business firm”
§ 6-3.1-18-0.7 “Community based organization”
§ 6-3.1-18-1 “Community development corporation”
§ 6-3.1-18-2 “Fund”
§ 6-3.1-18-3 “Individual development account”
§ 6-3.1-18-4 “Pass through entity”
§ 6-3.1-18-4.3 “Person”
§ 6-3.1-18-4.5 “Qualified contribution”
§ 6-3.1-18-5 “State tax liability”
§ 6-3.1-18-6 Credit; amount; calculation; application
§ 6-3.1-18-7 Application of tax credit to pass through entities; calculation
§ 6-3.1-18-8 Credit supplement; other credits
§ 6-3.1-18-9 Documentation for credit; form; contents; notification of credit allowable
§ 6-3.1-18-10 Amount of tax credits allowed
§ 6-3.1-18-11 Tax credit available only in year paid
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Terms Used In Indiana Code > Title 6 > Article 3.1 > Chapter 18 - Individual Development Account Tax Credit

  • authority: means the Indiana housing and community development authority established by IC 5-20-1-3. See Indiana Code 6-3.1-18-0.3
  • business firm: means any business entity authorized to do business in the state of Indiana that has state tax liability. See Indiana Code 6-3.1-18-0.5
  • community based organization: has the meaning set forth in Indiana Code 6-3.1-18-0.7
  • community development corporation: has the meaning set forth in IC 4-4-28-2. See Indiana Code 6-3.1-18-1
  • 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.
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • fund: refers to an individual development account fund established by a community development corporation or community based organization under IC 4-4-28-13. See Indiana Code 6-3.1-18-2
  • individual development account: has the meaning set forth in IC 4-4-28-5. See Indiana Code 6-3.1-18-3
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • pass through entity: means :

    Indiana Code 6-3.1-18-4

  • person: means any individual subject to Indiana adjusted gross income tax. See Indiana Code 6-3.1-18-4.3
  • qualified contribution: means a contribution to a fund for which a community development corporation or community based organization has received an allocation of tax credits under IC 4-4-28-13. See Indiana Code 6-3.1-18-4.5
  • state tax liability: means a taxpayer's total tax liability incurred under:

    Indiana Code 6-3.1-18-5

  • Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5