Indiana Code
Chapter 36. Film and Media Production Tax Credit
6-3.1-36-11. Credit Carryover

Sec. 11. (a) The amount of the credit provided by this chapter that a taxpayer uses during a particular taxable year may not exceed the state tax liability of the taxpayer.
(b) If the credit provided by this chapter exceeds the taxpayer's state tax liability for the first taxable year containing the taxable year for which the corporation awards the credit, then the excess may be carried over to succeeding taxable years and used as a credit against the state tax liability of the taxpayer during those taxable years.
(c) Each time that the credit is carried over to a succeeding taxable year, it is to be reduced by the amount that was used as a credit during the immediately preceding taxable year. The credit provided by this chapter may be carried forward and applied to succeeding taxable years for nine (9) taxable years following the first taxable year containing the taxable year for which the corporation awards the credit.
(d) If a taxpayer fails to claim a credit under this chapter for a year in which the taxpayer is otherwise permitted to claim the credit, the credit will be considered to be used for purposes of subsection (c).
As added by P.L.135-2022, SEC.19.

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