Definitions
Sec. 1. For the purposes of this chapter:
"Agreement" means any agreement entered into with the
commissioner of the department of correction under IC 11-10-7-2.
"Pass through entity" means a:
(1) corporation that is exempt from the adjusted gross income
tax under IC 6-3-2-2.8(2);
(2) partnership;
(3) trust;
(4) limited liability company; or
(5) limited liability partnership.
"Qualified property" means any machinery, tools, equipment,
building, structure, or other tangible property considered qualified
property under Section 38 of the Internal Revenue Code that is used
as an integral part of the operation contemplated by an agreement
and that is installed, used, or operated exclusively on property
managed by the department of correction.
"State income tax liability" means a taxpayer's total income tax
liability incurred under IC 6-3, as computed after application of
credits that, under IC 6-3.1-1-2, are to be applied before the credit
provided by this chapter.
"Taxpayer" means any person, corporation, limited liability
company, partnership, or other entity that has state tax liability. The
term includes a pass through entity.
"Wages paid" includes all earnings surrendered to the department
of correction under IC 11-10-7-5.
As added by P.L.51-1984, SEC.1. Amended by P.L.129-2001, SEC.5;
P.L.192-2002(ss), SEC.96; P.L.246-2005, SEC.73.
Last modified: May 28, 2006