Form It-40 - Indiana Full-Year Resident Individual Income Tax Booklet - 2012 Page 48
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64Note. See the Restriction for Certain Tax Credits - Limited to One
Historic building rehabilitation credit
819
per Project and the Combined Limitation on page 51 for additional
An historic building rehabilitation credit is available for the rehabilita-
limitations.
tion or preservation of an historic building that is listed on the Indiana
Register of Historic Sites and Structures, is at least 50 years old and is
Enter code 813 under line 6 if claiming this credit.
income-producing.
Enterprise zone loan interest credit 814
Those eligible to claim this credit include an individual, corporation,
S corporation, partnership, limited liability company, limited liability
This credit can be for up to five percent of the interest received from all
partnership, nonprofit organization and/or joint venture.
qualified loans made during a tax year for use in an Indiana enterprise
zone.
To qualify for the credit, you must obtain certification from the Divi-
sion of Historic Preservation and Archaeology, Indiana Department
For more information, and how to calculate this credit, get Income Tax
Information Bulletin #66 at
and Indiana
of Natural Resources. For additional information, you may call the
Department of Natural Resources at (317) 232-1646, visit their website
Schedule LIC at
at
and see Income Tax Information Bulletin
Note. Schedule LIC must be enclosed if claiming this credit. Contact
#87 at .
the Indiana Economic Development Corporation, One North Capitol,
Note. The total amount of historic building rehabilitation credits al-
Suite 700, Indianapolis, IN, 46204, call (317) 232-8827, or visit their
lowed for all taxpayers in a year is limited to $450,000.
website at
for additional information.
Enter code 814 under line 6 if claiming this credit. See the Combined
Enter code 819 under line 6 if claiming this credit and enclose the cer-
Limitation on page 51.
tification from the Division of Historic Preservation and Archaeology
to your return. See the Combined Limitation on page 51.
Ethanol production credit 815
Hoosier business investment credit
820
An Indiana facility with a capacity to produce 40 million gallons of
grain ethanol per year may be eligible for this credit. Proof of informa-
This credit is for qualified investments, which include the purchase
of new telecommunications, production, manufacturing, fabrication,
tion for the credit calculation, plus a copy of the Certificate of Quali-
fied Facility issued by the Indiana Recycling and Energy Development
processing, refining or finishing equipment. Pass-through entities are
eligible for this credit.
Board, must be enclosed to verify this credit.
This credit is available to pass-through entities, such as members of
This credit is administered by the Indiana Economic Development
Corporation (IEDC), One North Capitol, Suite 700, Indianapolis, IN,
partnerships and S corporations.
46204. Visit the IEDC website at
or call (317) 234-
4046 for additional information.
File an Application for Ethanol Credit Certification, State Form 52302,
with the Indiana Economic Development Corporation, Ethanol Credit
Certification, One North Capitol, Suite 700, Indianapolis, IN, 46204,
Also, see Income Tax Information Bulletin #95 at
.
call them at (317) 232-8827, or visit their website at
for additional information. Also, see Income Tax Information Bulletin
Note. See the Restriction for Certain Tax Credits - Limited to One
#93 at
for more information.
Per Project and the Combined Limitation on page 51 for additional
Enter code 815 under line 6 if claiming this credit. See the Combined
limitations.
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
least 75 employees, that relocates its corporate headquarters to Indiana
Indiana’s research expense credit 822
may be eligible for a credit. The credit may be as much as 50 percent of
the cost incurred in relocating the headquarters.
Indiana has a research expense credit that is similar to the federal
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
Enter code 818 under line 6 if claiming this credit. See the Combined
your claim.
Limitation on page 51.
Page 48
IT-40 Booklet 2012
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