Sec. 17. (a) If the amount determined under section 16(b) of this chapter for a taxable year exceeds the taxpayer's state tax liability for that taxable year, the taxpayer may carry the excess over to the immediately following taxable years. The amount of the credit carryover from a taxable year shall be reduced to the extent that the carryover is used by the taxpayer to obtain a credit under this chapter for any subsequent taxable year.
(b) A taxpayer is not entitled to a carryback or refund of any unused credit.
As added by P.L.379-1987(ss), SEC.11.
Structure Indiana Code
Article 3.1. State Tax Liability Credits
Chapter 11. Industrial Recovery Tax Credit
6-3.1-11-1. "Applicable Percentage"
6-3.1-11-5. "Industrial Recovery Site"
6-3.1-11-8. "Placed in Service"
6-3.1-11-10. "Qualified Investment"
6-3.1-11-12. "State Tax Liability"
6-3.1-11-16. Credit for Qualified Investment; Computation of Amount; Assignment of Credit
6-3.1-11-17. Carryover of Excess Credit; Carryback or Refund of Unused Credit Barred
6-3.1-11-18.5. Application to Enter Into Agreement With the Corporation
6-3.1-11-22. Application of Credit Against Taxes Owed; Order; Computation
6-3.1-11-23. Claiming of Credit on Annual Tax Return; Certification; Required Information