Sec. 23. If the corporation determines that a taxpayer who has claimed a credit under this chapter is not entitled to the credit because of the taxpayer's noncompliance with the requirements of the tax credit agreement or all the provisions of this chapter, the corporation shall, after giving the taxpayer an opportunity to explain the noncompliance:
(1) notify the department of state revenue of the noncompliance; and
(2) request the department of state revenue to impose an assessment on the taxpayer in an amount that may not exceed the sum of any previously allowed credits under this chapter together with interest and penalties required or permitted by law.
As added by P.L.224-2003, SEC.197. Amended by P.L.4-2005, SEC.111; P.L.145-2016, SEC.34.
Structure Indiana Code
Article 3.1. State Tax Liability Credits
Chapter 26. Hoosier Business Investment Tax Credit
6-3.1-26-3.1. "Digital Manufacturing Equipment"
6-3.1-26-5. "Highly Compensated Employee"
6-3.1-26-5.5. "Motion Picture or Audio Production"
6-3.1-26-7. "Pass Through Entity"
6-3.1-26-8. "Qualified Investment"
6-3.1-26-8.5. "Logistics Investment"
6-3.1-26-9. "State Tax Liability"
6-3.1-26-12. Purpose of Credit
6-3.1-26-13. Entitlement to Credit
6-3.1-26-15. Carry Forward of Credit; Acceleration of Certain Credits
6-3.1-26-16. Shareholder or Partner Entitled to Credit; Acceleration of Certain Credits
6-3.1-26-18. Agreement for Credit; Conditions
6-3.1-26-19. Credit Disallowed for Relocated Jobs
6-3.1-26-20. Certification of Qualified Investments
6-3.1-26-21. Agreement for Credit; Contents
6-3.1-26-22. Certificate of Verification
6-3.1-26-23. Noncompliance With Agreement; Assessments