Credit; amount; calculation; application
Sec. 6. (a) Subject to the limitations provided in subsection (b)
and sections 7, 8, 9, 10, and 11 of this chapter, the department shall
grant a tax credit against any state tax liability due equal to fifty
percent (50%) of the amount contributed by a person or an individual
to a fund if the contribution is not less than one hundred dollars
($100) and not more than fifty thousand dollars ($50,000).
(b) The credit provided by this chapter shall only be applied
against any state tax liability owed by the taxpayer after the
application of any credits that under IC 6-3.1-1-2 must be applied
before the credit provided by this chapter.
As added by P.L.15-1997, SEC.2. Amended by P.L.4-1999, SEC.4;
P.L.192-2002(ss), SEC.112.
Last modified: May 28, 2006