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Current as of January 02, 2024 | Updated by FindLaw Staff
Sec. 10. (a) If the amount of the credit determined under section 8(b) of this chapter for a taxpayer in a taxable year exceeds the taxpayer's state tax liability for that taxable year, the taxpayer may carry the excess credit over for a period not to exceed the eligible taxpayer's following three (3) 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. A taxpayer is not entitled to a carryback or a refund of any unused credit amount.
(b) A taxpayer may not assign any part of a credit to which the taxpayer is entitled under this chapter.
Cite this article: FindLaw.com - Indiana Code Title 6. Taxation § 6-3.1-39.5-10 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-6-taxation/in-code-sect-6-3-1-39-5-10/
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