Ind. Code § 6-3.1-18-9
Documentation for credit; form; contents; notification of credit allowable
Redline — January 1, 2018 → current.View current text →
Current — January 1, 2025
As of January 1, 2018
Sec. 9. (a) A person that or an individual who desires to claim a tax credit as provided in this chapter shall file with the department, in the form approved by the department, an application stating the amount of the qualified contribution that the person or individual proposes to make and the amount sought to be claimed as a credit.
Sec. 9. (a) The community development corporation or community based organization, on behalf of a business firm or person that desires to claim a tax credit as provided in this chapter, shall file with the authority, in the form approved by the authority, documentation stating the amount of the qualified contribution that would qualify for a tax credit, and the amount allocated to the business firm or person to be claimed as a credit.
(b) The department shall promptly notify an applicant whether, or the extent to which, the tax credit is allowable in the state fiscal year in which the application is filed, as provided in section 6 of this chapter. If the credit is allowable in that state fiscal year, the applicant shall within thirty (30) days after receipt of the notice file with the department a statement, in the form and accompanied by the proof of payment of the qualified contribution as the department may prescribe, setting forth that the amount to be claimed as a credit under this chapter has been paid through a qualified contribution as provided in section 6 of this chapter.
(b) The department shall promptly notify a business firm or person whether, or the extent to which, the tax credit is allowable in the state fiscal year in which the tax return claiming the credit is filed, as provided in section 6 of this chapter.
(c) The department may disallow any credit claimed under this chapter for which the statement or proof of payment is not filed within the thirty (30) day period.
(c) The department shall consider documentation from the authority as proof of payment, setting forth that the amount to be claimed as a credit under this chapter has been paid to a community development corporation or a community based organization as a qualified contribution to the fund of the community development corporation or the community based organization fund for the current state fiscal year, or permanently set aside in a special account to be used solely for this fund.
Official source: Indiana General Assembly. Reproduced from public-domain Indiana statutes; confirm against the official source for the current text. Not legal advice.