Ind. Code § 6-3.1-9-4
Documentation for credit; form; contents; priority notification of credit allowable
Redline — January 1, 2018 → current.View current text →
Current — January 1, 2025
As of January 1, 2018
Sec. 4. (a) Any business firm or person which desires to claim a tax credit as provided in this chapter shall file with the department, in the form that the department may prescribe, an application stating the amount of the contribution or investment which it proposes to make which would qualify for a tax credit, and the amount sought to be claimed as a credit. The application shall include a certificate evidencing approval of the contribution or program by the authority.
Sec. 4. (a) The neighborhood organization, on behalf of any business firm or person which desires to claim a tax credit as provided in this chapter, shall file with the authority, in the form that the authority may prescribe, documentation stating the amount of the 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 authority shall give priority in issuing certificates to applicants whose contributions or programs directly benefit enterprise zones.
(b) The authority shall give priority in issuing tax credits to neighborhood organizations whose programs directly benefit enterprise zones.
(c) 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 5 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 of state revenue a statement, in the form and accompanied by the proof of payment as the department may prescribe, setting forth that the amount to be claimed as a credit under this chapter has been paid to an organization for an approved program or purpose, or permanently set aside in a special account to be used solely for an approved program or purpose.
(c) 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 5 of this chapter.
(d) 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.
(d) 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 an organization for an approved program or purpose, or permanently set aside in a special account to be used solely for an approved program or purpose.
Official source: Indiana General Assembly. Reproduced from public-domain Indiana statutes; confirm against the official source for the current text. Not legal advice.