Indiana Code > Title 6 > Article 3.1 > Chapter 35.8 – Foster Care Support Tax Credit
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In Indiana Code > Title 6 > Article 3.1 > Chapter 35.8 - Foster Care Support Tax Credit
- 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.
- foster care: means living in a place licensed under IC 31-27. See Indiana Code 6-3.1-35.8-1
- 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.
- person: means an individual, a corporation, a limited liability company, a partnership, or another legal entity. See Indiana Code 6-3.1-35.8-1
- qualifying contribution: means a monetary payment made by a person to the insuring foster youth trust fund established by Indiana Code 6-3.1-35.8-1
- qualifying foster care organization: means an organization that meets the following qualifications:
Indiana Code 6-3.1-35.8-1
- state tax liability: means the taxpayer's total tax liability that is incurred under:
Indiana Code 6-3.1-35.8-1
- tax credit: means a deduction from any tax otherwise due under IC 6-3 or Indiana Code 6-3.1-35.8-1
- Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5