Skip to main content
Find a Lawyer

Indiana Code Title 6. Taxation § 6-3.1-38.1-9

Current as of January 02, 2024 | Updated by Findlaw Staff

<Text of section expires December 31, 2027, pursuant to IC 6-3.1-38.1-15.>

Sec. 9. (a) Subject to subsection (b), if the department certifies a taxpayer under section 8 of this chapter, the taxpayer is entitled to a tax credit against the taxpayer's state tax liability equal to:

(1) the taxpayer's:

(A) qualified railroad expenditures;  or

(B) qualified new rail infrastructure expenditures;  multiplied by

(2) fifty percent (50%).

(b) The amount of a tax credit allowed under subsection (a) shall not exceed the following:

(1) For qualified railroad expenditures, the product of:

(A) the number of miles of Class II or Class III railroad track owned or leased by the taxpayer in Indiana at the close of the taxable year;  multiplied by

(B) three thousand five hundred dollars ($3,500).

(2) For qualified new rail infrastructure expenditures, the lesser of:

(A) fifty percent (50%) of the qualified new rail expenditures for each new rail served customer project completed by the taxpayer in the taxable year;  or

(B) five hundred thousand dollars ($500,000) per rail served customer project.

Previous Part of Code Next Part of Code
Back to Chapter List

Cite this article: FindLaw.com - Indiana Code Title 6. Taxation § 6-3.1-38.1-9 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-6-taxation/in-code-sect-6-3-1-38-1-9/

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.

Was this helpful?

Welcome to FindLaw's Cases & Codes

A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw’s Learn About the Law.

Go to Learn About the Law

Latest Blog Posts

For Legal Professionals

Learn About The Law

Get help with your legal needs

FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.

Go to Learn About the Law

Need to Find an Attorney?

Search our directory by legal issue

Enter information in one or both fields (Required)

Copied to clipboard