Sec. 13. (a) As used in this section, "export income" means the gross receipts from the sale, transfer, or exchange of tangible personal property destined for international markets that is:
(1) manufactured at a plant located within a maritime opportunity district established under IC 6-1.1-40 (before its expiration); and
(2) shipped through a port operated by the state.
(b) As used in this section, "export sales ratio" means the quotient of:
(1) the taxpayer's export income; divided by
(2) the taxpayer's gross receipts from the sale, transfer, or exchange of tangible personal property, regardless of its destination.
(c) As used in this section, "taxpayer" means a person or corporation that has export income.
(d) The ports of Indiana established by IC 8-10-1-3 shall notify the department when a maritime opportunity district is established under IC 6-1.1-40 (before its expiration). The notice must include:
(1) the resolution passed by the commission to establish the district; and
(2) a list of all taxpayers located in the district.
(e) The ports of Indiana shall also notify the department of any subsequent changes in the list of taxpayers located in the district.
(f) A taxpayer is entitled to a deduction from the taxpayer's adjusted gross income in an amount equal to the lesser of:
(1) the taxpayer's adjusted gross income; or
(2) the product of the export sales ratio multiplied by the percentage set forth in subsection (g).
(g) The percentage to be used in determining the amount a taxpayer is entitled to deduct under this section depends upon the number of years that the taxpayer could have taken a deduction under this section. The percentage to be used in subsection (f) is as follows:
YEAR OF DEDUCTION
PERCENTAGE
1st through 4th
100%
5th
80%
6th
60%
7th
40%
8th
20%
9th and thereafter
0%
(h) The department shall determine, for each taxpayer claiming a deduction under this section, the taxpayer's export sales ratio for purposes of IC 6-1.1-40 (before its expiration). The department shall certify the amount of the ratio to the department of local government finance.
(i) A taxpayer is not entitled to a deduction under this section based on export income received by the taxpayer after December 31, 2015.
(j) This section expires January 1, 2025.
As added by P.L.62-1988, SEC.2. Amended by P.L.90-2002, SEC.288; P.L.98-2008, SEC.8; P.L.250-2015, SEC.19; P.L.212-2018(ss), SEC.22.
Structure Indiana Code
Chapter 2. Imposition of Tax and Deductions
6-3-2-0.3. Intent of General Assembly Adding Section 2.3 of This Chapter
6-3-2-1. Tax Rate; Calculations Required for Purposes of Determining Tax Rate
6-3-2-2.2. Interest Income, Discounts, and Receipts Attributable to State
6-3-2-2.3. In-State Commercial Printing for Out-of-State Customer
6-3-2-2.5. Resident Persons; Net Operating Loss; Adjusted Gross Income
6-3-2-2.5-b. Resident Persons; Net Operating Loss; Adjusted Gross Income
6-3-2-2.6. Corporations and Nonresident Persons; Net Operating Losses
6-3-2-2.6-b. Corporations and Nonresident Persons; Net Operating Losses
6-3-2-2.7. Team Members; Indiana Income; Rules
6-3-2-3.1. Taxation; Nonprofit Entities; Unrelated Business Income
6-3-2-3.2. Indiana Income of Race Team Members
6-3-2-3.5. Exemption; Fares for Public Transportation Services
6-3-2-3.7. Remainder of Federal Civil Service Annuity Minus Certain Retirement Benefits; Deduction
6-3-2-4. Military Service Deduction; Retirement Income or Survivor's Benefits Deduction
6-3-2-6. Deduction; Rent Payments
6-3-2-8. Enterprise Zone Employers; Exemption From Deduction
6-3-2-9. Disability Retirement; Deduction; Amount
6-3-2-10. Unemployment Compensation; Deduction
6-3-2-11. Deductions From Adjusted Gross Income; Federal Employee Paid Leave
6-3-2-12. Foreign Source Dividends; Deduction; Computation
6-3-2-14.1. Prize Money Accruing Before July 1, 2002; Exemption
6-3-2-16. Transactions Between Taxable Entity and Unitary Taxpayer Subject to Ic 6-5.5
6-3-2-19. Distributions for Higher Education; Exemptions
6-3-2-20. Corporations; Intangible Expenses; Directly Related Interest Expenses; Exceptions
6-3-2-21.7. Exemption for Certain Income Derived From Patents
6-3-2-22. Deduction; Unreimbursed Education Expenditures
6-3-2-24. Income Tax Exemption; Olympic Medalist
6-3-2-26. Deduction for Contributions to a Regional Development Authority Infrastructure Fund