Indiana Code
Chapter 24. Venture Capital Investment Tax Credit
6-3.1-24-4.5. "Substantial Presence"

Sec. 4.5. (a) As used in this chapter, "substantial presence" means:
(1) maintaining a company headquarters in Indiana; or
(2) maintaining at least seventy-five percent (75%) of a company's total payroll in Indiana.
(b) Notwithstanding subsection (a), a company receiving qualified investment capital from a qualified Indiana investment fund shall be considered to have substantial presence in Indiana if the company commits to relocate:
(1) its headquarters; or
(2) seventy-five percent (75%) of its total payroll;
to Indiana within one (1) year of receiving qualified investment capital from a qualified Indiana investment fund.
As added by P.L.165-2021, SEC.78.

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