Instructions For Form Fit-20 - Indiana Financial Institution Tax Return - 2011 Page 13
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28Community Revitalization Enhancement
Also get Income Tax Information Bulletin #103 at
District Credit
808
A state and local income tax liability credit is available for qualified
Blended Biodiesel Credits
803
investments for the redevelopment or rehabilitation of property
Credits are available for taxpayers who produce biodiesel and/or
within a community revitalization enhancement district. The
blended biodiesel at an Indiana facility (certified by the IEDC) and
expenditure must be approved by the IEDC before it is made. The
for dealers who sell users blended biodiesel at retail
credit is equal to 25% of the qualified investment made by the
taxpayer during the taxable year.
An approved Department of Revenue Form BD-100 must be
enclosed to verify the claimed credit. Contact the IEDC, Biodiesel
The Department has the authority to disallow any credit if the
Credit Certification, One North Capitol, Suite 700, Indianapolis,
taxpayer ceases existing operations, substantially reduces its
IN 46204.You can also call them at (317) 232-8827 or visit their
operations within the district or elsewhere in Indiana, or reduces
website at
for more information.
other Indiana operations to relocate them into the district.
Also, get Income Tax Information Bulletin #91 at
The entity can assign the credit to a lessee who remains subject
for additional information.
to the same requirements. The assignment must be in writing,
and any consideration may not exceed the value of the part of the
Capital Investment Credit
804
credit assigned. Both parties must report the assignment on their
state income tax returns for the year of assignment.
A capital investment cost credit is available for certain qualified
capital investments made in Shelby County. The IEDC certifies the
For more information, contact the Indiana Economic
amount of credit. It is equal to 14% of the amount of the approved
Development Corporation, One North Capitol, Suite 700,
qualified investment and is claimed over a seven-year period.
Indianapolis, IN 46204. You can also visit their website at
for more information about this credit.
For information regarding the definitions, procedures, and
qualifications for obtaining this credit, contact the Indiana
Economic Development Corporation, Enterprise Zone Board,
Employer Health Benefit Plan Credit
842
One North Capitol, Suite 700, Indianapolis, IN 46204, or visit their
A credit is available to certain taxpayers who begin offering health
website at
insurance to their employees. An employer who did not provide
health insurance to employees prior to Jan. 1, 2007, and makes
Coal Gasification Technology Investment
health insurance available to its employees may be eligible for a
credit.
Credit
806
A credit is available for a qualified investment in an integrated coal
The amount of the credit is the lesser of $2,500 or $50 multiplied
gasification power plant or a fluidized bed combustion technology
by the number of employees enrolled in the health benefit plan.
that serves Indiana gas utility and electric utility consumers. This
The employer is required to make health insurance available to the
can include an investment in a facility located in Indiana that
taxpayer’s employees for at least two years after the employer first
converts coal into synthesis gas that can be used as a substitute for
offers the health benefit plan.
natural gas.
Get Income Tax Information Bulletin #101 at
You must file an application for certification with the IEDC. If the
for more information.
credit is assigned, it must be approved by the utility regulatory
commission and taken in 10 annual installments.
Enclose with the return proof of your continued eligibility for the
credit and proof of expenditures necessary to calculate the credit.
The amount of credit for a coal gasification power plant is 10% of
the first $500 million invested and 5% for any amount over that.
Ethanol Production Credit
815
The amount of credit for a fluidized bed combustion technology is
An Indiana facility with a capacity to produce 40 million gallons
7% of the first $500 million invested and 3% for any amount over
of grain ethanol per year might be eligible for a credit. Proof of
that.
information for the credit calculation plus a copy of the Certificate
of Qualified Facility issued by the Indiana Recycling and Energy
For more information, contact the Indiana Economic
Development Board must be enclosed with the return to verify this
Development Corporation, One North Capitol, Suite 700,
credit.
Indianapolis, IN 46204, or visit their website at
Get Income Tax Information Bulletin #93 at
Also get Income Tax Information Bulletin #99 at
for more information.
13
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