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Indiana Code - Taxation - Title 6, Section 6-1.1-3-7.5
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Indiana Lawyer > Taxation > Indiana Code - Taxation - Title 6, Section 6-1.1-3-7.5
Amended returns; tax adjustments; credits Sec. 7.5. (a) A taxpayer may file an amended personal property
tax return, in conformity with the rules adopted by the department of
local government finance, not more than six (6) months after the later
of the following:
(1) The filing date for the original personal property tax return,
if the taxpayer is not granted an extension in which to file under
section 7 of this chapter.
(2) The extension date for the original personal property tax
return, if the taxpayer is granted an extension under section 7 of
this chapter.
(b) A tax adjustment related to an amended personal property tax
return shall be made in conformity with rules adopted under
IC 4-22-2 by the department of local government finance.
(c) If a taxpayer wishes to correct an error made by the taxpayer
on the taxpayer's original personal property tax return, the taxpayer
must file an amended personal property tax return under this section
within the time required by subsection (a). A taxpayer may claim on
an amended personal property tax return any adjustment or
exemption that would have been allowable under any statute or rule
adopted by the department of local government finance if the
adjustment or exemption had been claimed on the original personal
property tax return.
(d) Notwithstanding any other provision, if:
(1) a taxpayer files an amended personal property tax return
under this section in order to correct an error made by the
taxpayer on the taxpayer's original personal property tax return;
and
(2) the taxpayer is entitled to a refund of personal property
taxes paid by the taxpayer under the original personal property
tax return;
the taxpayer is not entitled to interest on the refund.
(e) If a taxpayer files an amended personal property tax return for
a year before July 16 of that year, the taxpayer shall pay taxes
payable in the immediately succeeding year based on the assessed
value reported on the amended return.
(f) If a taxpayer files an amended personal property tax return for
a year after July 15 of that year, the taxpayer shall pay taxes payable
in the immediately succeeding year based on the assessed value
reported on the taxpayer's original personal property tax return. A
taxpayer that paid taxes under this subsection is entitled to a credit
in the amount of taxes paid by the taxpayer on the remainder of:
(1) the assessed value reported on the taxpayer's original
personal property tax return; minus
(2) the finally determined assessed value that results from the filing of the taxpayer's amended personal property tax return.
Except as provided in subsection (k), the county auditor shall apply
the credit against the taxpayer's property taxes on personal property
payable in the year that immediately succeeds the year in which the
taxes were paid.
(g) If the amount of the credit to which the taxpayer is entitled
under subsection (f) exceeds the amount of the taxpayer's property
taxes on personal property payable in the year that immediately
succeeds the year in which the taxes were paid, the county auditor
shall apply the amount of the excess credit against the taxpayer's
property taxes on personal property in the next succeeding year.
(h) Not later than December 31 of the year in which a credit is
applied under subsection (g), the county auditor shall refund to the
taxpayer the amount of any excess credit that remains after
application of the credit under subsection (g).
(i) The taxpayer is not required to file an application for:
(1) a credit under subsection (f) or (g); or
(2) a refund under subsection (h).
(j) Before August 1 of each year, the county auditor shall provide
to each taxing unit in the county an estimate of the total amount of
the credits under subsection (f) or (g) that will be applied against
taxes imposed by the taxing unit that are payable in the immediately
succeeding year.
(k) A county auditor may refund a credit amount to a taxpayer
before the time the credit would otherwise be applied against
property tax payments under this section. As added by P.L.6-1997, SEC.8. Amended by P.L.198-2001, SEC.6;
P.L.90-2002, SEC.23.
Last modified: May 28, 2006
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