Determination of tax credit amount
Sec. 9. (a) Subject to subsection (b), the amount of the credit to
which a taxpayer is entitled under section 8 of this chapter equals the
product of:
(1) fifty percent (50%); multiplied by
(2) the amount of the taxpayer's relocation costs in the taxable
year.
(b) The credit to which a taxpayer is entitled under section 8 of
this chapter may not reduce the taxpayer's state tax liability below
the amount of the taxpayer's state tax liability in the taxable year
immediately preceding the taxable year in which the taxpayer first
incurred relocation costs.
As added by P.L.193-2005, SEC.21.
Last modified: May 28, 2006