Form Fit-20 - Financial Institution Tax Booklet - 2013 Page 14
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30Also, get Income Tax Information Bulletin #91 at
The taxpayer can assign the credit to a lessee who remains subject
for additional information.
to the same requirements. The assignment must be in writing.
Also, any consideration may not exceed the value of the part of
Capital Investment Credit
804
the 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
Contact the Indiana Economic Development Corporation at One
the amount of credit. It is equal to 14% of the amount of the
North Capitol, Suite 700, Indianapolis, IN 46204, or visit their
approved qualified investment and is claimed over a seven-year
website at iedc.in.gov/ for more information about this credit.
period.
Employer Health Benefit Plan Credit
842
For information regarding the definitions, procedures, and
qualifications for obtaining this credit, contact the Indiana
A credit is available to certain taxpayers who begin offering health
Economic Development Corporation, Enterprise Zone Board,
insurance to their employees. An employer who did not provide
One North Capitol, Suite 700, Indianapolis, IN 46204, or visit
health insurance to employees prior to Jan. 1, 2007, and makes
their website at iedc.in.gov.
health insurance available to its employees may be eligible for a
credit.
Coal Gasification Technology Investment
The amount of the credit is the lesser of $2,500 or $50 multiplied
Credit
806
by the number of employees enrolled in the health benefit plan.
A credit is available for a qualified investment in an integrated
The employer is required to make health insurance available to
coal gasification power plant or a fluidized bed combustion
the taxpayer’s employees for at least two years after the employer
technology that serves Indiana gas utility and electric utility
first offers the health benefit plan.
consumers. This can include an investment in a facility located in
Indiana that converts coal into synthesis gas that can be used as a
For more information, you can get Income Tax Information
substitute for natural gas.
Bulletin #101 at .
You must file an application for certification with the IEDC. If the
Enclose with the return proof of your continued eligibility for the
credit is assigned, it must be approved by the utility regulatory
credit and proof of expenditures necessary to calculate the credit.
commission and taken in 10 annual installments.
Ethanol Production Credit
815
The amount of credit for a coal gasification power plant is 10% of
An Indiana facility with a capacity to produce 40 million gallons
the first $500 million invested and 5% for any amount over that.
of grain ethanol per year might be eligible for a credit. Proof of
The amount of credit for a fluidized bed combustion technology is
information for the credit calculation plus a copy of the Certificate
7% of the first $500 million invested and 3% for any amount over
of Qualified Facility issued by the Indiana Recycling and Energy
that.
Development Board must be enclosed with the return to verify
this credit.
For more information, contact the Indiana Economic
Development Corporation, One North Capitol, Suite 700,
You can get Income Tax Information Bulletin #93 at
Indianapolis, IN 46204, or visit their website at iedc.in.gov/.
for more information.
Also get Income Tax Information Bulletin #99 at
An additional tax credit is available for cellulosic ethanol
.
production. Taxpayers who produce at least 20 million gallons of
cellulosic ethanol in a taxable year may apply this credit, but only
Community Revitalization Enhancement
against the state tax liability attributable to business activity taking
District Credit
808
place at the Indiana facility at which the cellulosic ethanol was
A state and local income tax liability credit is available for a
produced.
qualified investment for the redevelopment or rehabilitation
of property within a community revitalization enhancement
File Application for Ethanol Credit Certification, State Form
district. To be eligible for the credit, the intended expenditure
52302, with the Indiana Economic Development Corporation,
plan must be approved by the IEDC before the expenditure is
Ethanol Credit Certification, One North Capitol, Suite 700,
made. The credit is equal to 25 percent of the IEDC-approved
Indianapolis, IN 46204. Call them at (317) 232-8800 or visit their
qualified investment made by the taxpayer during the tax year.
website at iedc.in.gov for additional information.
The department has the authority to disallow any credit if the
taxpayer:
Headquarters Relocation Credit
818
•
Ceases existing operations;
A business with annual worldwide revenue of $50 million and
•
Substantially reduces its operations within the district or
at least 75 employees that relocates its corporate headquarters to
elsewhere in Indiana; or
Indiana may be eligible for a credit. The credit may be as much as
•
Reduces other Indiana operations to relocate them into
50% of the cost incurred in relocating the headquarters. Effective
the district.
July 1, 2013, “corporate headquarters” includes:
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