Pass through entity; eligibility of owners, shareholders, or
members for credit
Sec. 11. If a pass through entity is entitled to a credit under
section 6 of this chapter but does not have state tax liability against
which the tax credit may be applied, a shareholder, partner, or
member of the pass through entity is entitled to a tax credit equal to:
(1) the tax credit determined for the pass through entity for the
taxable year; multiplied by
(2) the percentage of the pass through entity's distributive
income to which the shareholder, partner, or member is entitled.
As added by P.L.192-2002(ss), SEC.119.
Last modified: May 28, 2006