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Indiana Code Title 6. Taxation § 6-8.1-7-1.5

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

Sec. 1.5. (a) The following definitions apply to this section:

(1) “Direct owner” means a person, corporation, or other entity that owns an interest in a pass through entity without owning the interest through another entity.

(2) “Owner” means:

(A) a partner in a partnership, including a member of a limited liability company;

(B) a shareholder in a corporation described in IC 6-3-2-2.8(2);  or

(C) a beneficiary of an estate or trust.

(3) “Pass through entity” has the meaning set forth in IC 6-3-1-35.

(b) The department may disclose return information or liabilities related to a return by a pass through entity filed under IC 6-3 or IC 6-5.5 to a direct owner of the pass through entity, but only to the extent necessary for the direct owner to determine the direct owner's tax due or filing requirements under IC 6-3 or IC 6-5.5.  For purposes of this subsection, a withholding tax return other than a return filed under IC 6-3-4-12, IC 6-3-4-13, or IC 6-3-4-15 is not a return of a pass through entity permitted to be disclosed.

(c) The department may disclose the information from another taxpayer's return to a taxpayer, but only to the extent necessary to determine the requesting taxpayer's income, deductions, credits, or other attributes affecting the requesting taxpayer's liability for a listed tax.

(d) If the department determines that a taxpayer is personally liable for a listed tax of another taxpayer or is liable for a listed tax as a transferee of another taxpayer, the department may disclose:

(1) any information related to the other taxpayer, but only to the extent the taxpayer is personally liable for the liabilities of the other taxpayer;  and

(2) any information related to amounts collected or relieved from collection with regard to the liability that the department determines is owed by the taxpayer.

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Cite this article: FindLaw.com - Indiana Code Title 6. Taxation § 6-8.1-7-1.5 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-6-taxation/in-code-sect-6-8-1-7-1-5/

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