Form Fit-20 - Financial Institution Tax Booklet - 2012 Page 12
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28Tax Liability Credits
Lines 35 and 36 — Other Tax Liability Credits
Available to Financial Institutions
Claim other allowable tax liability credits by entering the name,
Line 32. Neighborhood Assistance Tax Credit 828
credit ID code number, and amount using line 35 or 36. The
If you made a contribution to the Neighborhood Assistance
total nonrefundable tax liability credit is limited to the amount
Program (NAP) or engaged in activities to upgrade areas in
of income tax on line 29, unless otherwise noted. If your claim
Indiana, you might be able to claim a credit for this assistance.
exceeds the amount of your tax liability, you must adjust by
Contact the Indiana Housing and Community Development
recalculating the credit to the amount that you can apply. If you
Authority, Neighborhood Assistance Program, 30 S. Meridian,
qualify for the refundable Economic Development for a Growing
Suite 1000, Indianapolis, IN 46204. Or you can call (317) 232-7777
Economy (EDGE) job retention credit, claim that credit on line 41.
within Indianapolis or (800) 872-0371 outside of Indianapolis for
more information.
A detailed explanation or supporting schedule must be enclosed
with the return when claiming any credits on lines 35, 36, and 41.
Approval Form NC-20 must be enclosed with the return to claim
Refer to Information Bulletin #59 at
this credit. For more information about this credit, get Form
for more information about the Indiana tax credits available to
NC-10 at and Information Bulletin #22
taxpayers.
at .
Alternative Fuel Vehicle Manufacturer Credit 845
Line 33. Enterprise Zone Employment Expense
A credit is available for up to 15% for qualified investments made
Tax Credit
812
between Jan.1, 2007 and Dec. 31, 2012 within Indiana. This
This credit is based on qualified investments made within an
credit applies to expenditures for the manufacture or assembly
Indiana enterprise zone. It is the lesser of 10% of qualifying wages
of alternative fuel vehicles. An alternative fuel vehicle is any
or $1,500 per qualified employee, up to the amount of tax liability
passenger car or light truck with a gross vehicle weight of 8,500
on income derived from an enterprise zone. Enclose the completed
pounds or less and that is designed to operate using:
Schedule EZ 2 with the return.
•
Biodiesel
Get Indiana Schedule EZ 1, 2, and 3 at
•
Coal-derived liquid fuels;
for more information on how to calculate this credit.
•
Denatured alcohol;
•
E85;
Line 34. Enterprise Zone Loan Interest
•
Electricity;
Tax Credit
814
•
Hydrogen;
This credit can be for up to 5% of the interest received from all
•
Liquefied petroleum gas;
qualified loans made during a tax year for use in an active Indiana
•
Methanol;
enterprise zone.
•
Natural gas;
•
Non-alcohol fuels derived from biological material;
Get Information Bulletin #66 at and
•
P-Series fuels; or
Indiana Schedule LIC at for more
•
Ultra-low sulfur diesel.
information on how to calculate this credit. Schedule LIC must be
enclosed if claiming this credit.
For more information on the qualifications for obtaining this
credit, contact the Indiana Economic Development Corporation at
Contact the Indiana Economic Development Corporation at One
One North Capitol, Suite 700, Indianapolis, IN 46204; call them at
North Capitol, Suite 700, Indianapolis, IN 46204; call them at
(317) 232-8827; or visit their website at
(317) 232-8827; or visit their website at for
additional information.
Also you can get Income Tax Information Bulletin #103 at
.
Note: Claimants must be in good standing to remain eligible for
the enterprise zone loan interest credit. The term “zone business”
Blended Biodiesel Credits
803
includes an entity that claims certain tax benefits available to
Credits are available for taxpayers who produce biodiesel and/or
businesses located in an enterprise zone. A taxpayer can claim
blended biodiesel at an Indiana facility (certified by the IEDC) and
the enterprise zone loan interest credit only if that taxpayer pays a
for dealers who sell users blended biodiesel at retail
registration fee, provides additional assistance to urban enterprise
associations required of zone businesses, and complies with
An approved Department of Revenue Form BD-100 must be
requirements adopted by the Indiana Economic Development
enclosed to verify the claimed credit. Contact the IEDC, Biodiesel
Corporation.
Credit Certification, One North Capitol, Suite 700, Indianapolis,
IN 46204.You can also call them at (317) 232-8827 or visit their
website at for more information.
12
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