Definitions
Sec. 1. As used in this chapter:
"Enterprise zone" means an enterprise zone created under
IC 5-28-15.
"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 loan" means a loan made to an entity that uses the loan
proceeds for:
(1) a purpose that is directly related to a business located in an
enterprise zone;
(2) an improvement that increases the assessed value of real
property located in an enterprise zone; or
(3) rehabilitation, repair, or improvement of a residence.
"State tax liability" means a taxpayer's total tax liability that is
incurred under:
(1) IC 6-3-1 through IC 6-3-7 (the adjusted gross income tax);
(2) IC 27-1-18-2 (the insurance premiums tax); and
(3) IC 6-5.5 (the financial institutions tax);
as computed after the application of the 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 any state tax liability.
The term includes a pass through entity.
As added by P.L.51-1984, SEC.1. Amended by P.L.9-1986, SEC.7;
P.L.80-1989, SEC.8; P.L.347-1989(ss), SEC.15; P.L.8-1993,
SEC.87; P.L.120-1999, SEC.4; P.L.192-2002(ss), SEC.97;
P.L.4-2005, SEC.51.
Last modified: May 28, 2006