Form It-40 - Indiana Full-Year Resident Individual Income Tax Booklet - 2013 Page 48
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60for additional information. Also, see Income Tax Information Bulletin
Note. See the Restriction for Certain Tax Credits - Limited to One
Per Project and the Combined Limitation on page 51 for additional
#93 at
for more information.
limitations.
Enter code 815 under line 6 if claiming this credit. See the Combined
Limitation on page 51.
Enter code 820 under line 6 if claiming this credit. The taxpayer is
required to submit to the department a copy of the certificate from the
Headquarters relocation credit
818
IEDC verifying their share of the tax credit.
A business with annual worldwide revenue of $100 million, and at
Indiana’s research expense credit 822
least 75 employees, that relocates its corporate headquarters to Indiana
may be eligible for a credit. The credit may be as much as 50 percent of
Indiana has a research expense credit that is similar to the federal
the cost incurred in relocating the headquarters.
credit for research and experimental expenses paid in carrying on
your trade or business in Indiana.
For more information, including limitations and the application pro-
cess, see Income Tax Information Bulletin #97 at
S corporations and partnerships may pass through the credit to their
.
shareholders and partners. Enclose your schedule IN K-1 to support
your claim.
Enter code 818 under line 6 if claiming this credit. See the Combined
Limitation on page 51.
A completed Form IT-20REC must be kept with your records as the
department can require you to provide this information. Get Form
Historic building rehabilitation credit
819
IT-20REC at
An historic building rehabilitation credit is available for the rehabilita-
Enter code 822 under line 6 if claiming this credit. See the Combined
tion or preservation of an historic building that is listed on the Indiana
Limitation on page 51.
Register of Historic Sites and Structures, is at least 50 years old and is
income-producing.
Individual development account credit 823
Those eligible to claim this credit include an individual, corporation,
A credit is available for contributions made to a community develop-
S corporation, partnership, limited liability company, limited liability
ment corporation participating in an Individual Development Ac-
partnership, nonprofit organization and/or joint venture.
count (IDA) program.
To qualify for the credit, you must obtain certification from the Divi-
The organization must have an approved program number from the
sion of Historic Preservation and Archaeology, Indiana Department
Indiana Housing and Community Development Authority before a
of Natural Resources. For additional information, you may call the
contribution qualifies for pre-approval. Applications for the credit are
Department of Natural Resources at (317) 232-1646, visit their website
filed through the community development corporation by using Form
at
and see Income Tax Information Bulletin
IDA-10/20. An approved Form IDA-20 must be enclosed with your
#87 at .
return if claiming this credit.
Note. The total amount of historic building rehabilitation credits al-
S corporations and partnerships may take this credit and pass through
lowed for all taxpayers in a year is limited to $450,000.
the unused portion to their shareholders and partners.
Enter code 819 under line 6 if claiming this credit and enclose the cer-
To request additional information about the definitions, procedures
tification from the Division of Historic Preservation and Archaeology
and qualifications for obtaining this credit, contact: Indiana Housing
to your return. See the Combined Limitation on page 51.
and Community Development Authority, 30 S. Meridian St., Suite
1000, Indianapolis, IN 46204, telephone number (317) 232-7777.
Hoosier business investment credit
820
Note. The total amount of individual development account credits al-
This credit is for qualified investments, which include the purchase
lowed for all taxpayers in a year is limited to $200,000.
of new telecommunications, production, manufacturing, fabrication,
processing, refining or finishing equipment. Pass-through entities are
Keep the approval certification from IEDC or letter of assignment with
eligible for this credit.
your records as the department can require you to provide this infor-
mation.
This credit is administered by the Indiana Economic Development
Corporation (IEDC), One North Capitol, Suite 700, Indianapolis, IN,
Enter code 823 under line 6 if claiming this credit. See the Combined
46204. Visit the IEDC website at
or call (317) 234-
Limitation on page 51.
4046 for additional information.
Also, see Income Tax Information Bulletin #95 at
.
Page 48
IT-40 Booklet 2013
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