Credit; amount; calculation; eligible persons
Sec. 6. (a) An individual who is eligible for an earned income tax
credit under Section 32 of the Internal Revenue Code is eligible for
a credit under this chapter equal to six percent (6%) of the amount of
the federal earned income tax credit that the individual:
(1) is eligible to receive in the taxable year; and
(2) claimed for the taxable year;
under Section 32 of the Internal Revenue Code.
(b) If the credit amount exceeds the taxpayer's adjusted gross
income tax liability for the taxable year, the excess, less any advance
payments of the credit made by the taxpayer's employer under
IC 6-3-4-8 that reduce the excess, shall be refunded to the taxpayer.
As added by P.L.273-1999, SEC.227. Amended by P.L.192-2002(ss),
SEC.114.
Last modified: May 28, 2006