Definitions
Sec. 1. As used in this chapter:
"Base amount" means base amount (as defined in Section 41(c)
of the Internal Revenue Code as in effect on January 1, 2001),
modified by considering only Indiana qualified research expenses
and gross receipts attributable to Indiana in the calculation of the
taxpayer's:
(1) fixed base percentage; and
(2) average annual gross receipts.
"Indiana qualified research expense" means qualified research
expense that is incurred for research conducted in Indiana.
"Qualified research expense" means qualified research expense
(as defined in Section 41(b) of the Internal Revenue Code as in effect
on January 1, 2001).
"Pass through entity" means:
(1) a corporation that is exempt from the adjusted gross income
tax under IC 6-3-2-2.8(2);
(2) a partnership;
(3) a limited liability company; or
(4) a limited liability partnership.
"Research expense tax credit" means a credit provided under this
chapter against any tax otherwise due and payable under IC 6-3.
"Taxpayer" means an individual, a corporation, a limited liability
company, a limited liability partnership, a trust, or a partnership that
has any tax liability under IC 6-3 (adjusted gross income tax).
As added by P.L.51-1984, SEC.1. Amended by P.L.57-1990, SEC.1;
P.L.8-1993, SEC.85; P.L.8-1996, SEC.7; P.L.192-2002(ss), SEC.86;
P.L.193-2005, SEC.12.
Last modified: May 28, 2006