Form It-20s - Indiana S Corporation Income Tax Return - 2014 Page 26
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32Contact the Indiana Economic Development Corporation at One
on income derived from an active enterprise zone. Enclose the
North Capitol, Suite 700, Indianapolis, IN, 46204, or visit their
completed Schedule EZ 2 with the IT-20S return.
website at iedc.in.gov for more information about this credit.
Get Indiana Schedule EZ Parts 1, 2, and 3 at
for more information about how to calculate this credit.
Economic Development for a Growing Economy
(EDGE)
Enterprise Zone Loan Interest Tax Credit
814
This credit is for businesses that conduct certain activities designed
This credit can be for up to 5% of the interest received from all
to foster job creation in Indiana. It is a refundable tax liability credit.
qualified loans made during a tax year for use in an active Indiana
Note: You must complete Schedule IN-EDGE and enclose it with
enterprise zone.
your return. Otherwise, the credit will not be allowed. You also must
obtain a PIN from the IEDC.
Get Information Bulletin #66 at and
Indiana Schedule LIC at for more
Claim this credit on line 20 of the return.
information about how to calculate this credit. Enclose the
completed enterprise zone Schedule LIC with the IT-20S return.
Contact the Indiana Economic Development Corporation at One
For more information, contact the Indiana Economic Development
North Capitol, Suite 700, Indianapolis, IN 46204, for eligibility
Corporation, One North Capitol, Suite 700, Indianapolis, IN, 46204.
requirements. You can also visit iedc.in.gov for additional
You can also call them at (317) 232-8800 or visit their website at
information.
iedc.in.gov.
EDGE-R
Ethanol Production Tax Credit
815
This credit is for businesses that conduct certain activities designed
An Indiana facility with a capacity to produce 40 million gallons of
to foster job retention in Indiana. It is a refundable tax liability
grain ethanol gallons per year may be eligible for a credit. If credit is
credit. The aggregate amount of credits awarded for projects to retain
granted, it may not be:
existing jobs in Indiana is capped at $10 million per year. Note: You
•
Sold;
must complete Schedule IN-EDGE-R and enclose it with your return.
•
Assigned;
Otherwise, the credit will not be allowed. You also must obtain a PIN
•
Conveyed; or
from the IEDC.
•
Otherwise transferred.
Claim this credit on line 21 of the return.
An additional tax credit is available for cellulosic ethanol production.
Taxpayers who produce at least 20 million gallons of cellulosic
Contact the Indiana Economic Development Corporation at One
ethanol in a taxable year can apply this credit. But they can apply
North Capitol, Suite 700, Indianapolis, IN 46204, for eligibility
it only against the state tax liability attributable to business activity
requirements. You can also visit iedc.in.gov for additional
taking place at the Indiana facility where the cellulosic ethanol was
information.
produced.
Employer Health Benefit Plan Tax Credit
842
File an Application for Ethanol Credit Certification, State Form
A credit is available to taxpayers who begin offering health insurance
52302, with the Indiana Economic Development Corporation,
to their employees. An employer who did not provide health
Ethanol Credit Certification, One North Capitol, Suite 700,
insurance to employees prior to Jan. 1, 2007, and makes health
Indianapolis, IN 46204.
insurance available to its employees may be eligible for a credit. The
You can also call them at (317) 232-8800 or visit iedc.in.gov
amount of the credit is the lesser of $2,500 or $50 multiplied by the
for additional information. Proof of information for the credit
number of employees enrolled in the health benefit plan.
calculation must be enclosed with the return to verify this credit.
A copy of the Certificate of Qualified Facility issued by the Indiana
Note: Per IC 6-3.1-14-9, this credit will not be awarded for tax years
Recycling and Energy Development Board must also be enclosed.
that begin after Dec. 31, 2011. However, it can be carried forward
Information Bulletin #93 at has more
during 2014 and 2015.
information.
The employer is required to make health insurance available to
Headquarters Relocation Tax Credit
818
the taxpayer’s employees for at least two years after the employer
first offers the health benefit plan. Get Information Bulletin #101,
A credit is available to certain businesses. A business is eligible if it:
available at , for more information.
•
Has an annual worldwide revenue of $50 million;
Enclose with your return proof of your continued eligibility for the
•
Has at least 75 employees; and
credit. Also enclose proof of expenditures necessary to calculate the
•
Relocates its corporate headquarters to Indiana.
credit.
Effective July 1, 2013, “corporate headquarters” includes:
•
The principal offices of a division or similar subdivision of
Enterprise Zone Employment Expense
an eligible business; and
Tax Credit
812
•
A research and development center of an eligible business.
This credit is available for employers based on qualified investments
made within Indiana. It is the lesser of 10% of qualifying wages
The credit can be as much as 50% of the cost incurred to relocate the
or $1,500 per qualified employee, up to the amount of tax liability
headquarters.
20
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