Claim for proportional use credit
Sec. 4.8. (a) This section applies only to a claim for a proportional
use credit under section 4(d) or 4.5(d) of this chapter for taxes first
due and payable after July 31, 1999.
(b) In order to obtain a proportional use credit against taxes
imposed under section 4 or 4.5 of this chapter, a carrier must file a
claim with the department. The claim must be submitted on a form
prescribed by the department and must be filed with the quarterly
return for the taxable period for which the proportional use credit is
claimed. A carrier is not entitled to a proportional use credit under
section 4(d) or 4.5(d) of this chapter unless the carrier has paid in full
the taxes to which the credit applies. A credit approved under this
section shall, subject to this section, be refunded to the carrier
without interest.
(c) The department shall determine the aggregate amount of
proportional use credits claimed under section 4(d) or 4.5(d) of this
chapter for each quarter. The department may approve the full
amount of a proportional use credit claimed by a carrier if the
aggregate amount of proportional use credits claimed for the quarter
and for the fiscal year do not exceed the limits set forth in subsection
(d). If the aggregate amount of proportional use credits claimed in a
quarter exceeds the limits set forth in subsection (d), the department
shall pay the claims for that quarter on a pro rata basis.
(d) The department may not approve more than three million five
hundred thousand dollars ($3,500,000) of proportional use credits
under this section in a state fiscal year. In addition, the amount of
proportional use credits the department may approve under this
section for a quarter may not exceed the following:
(1) For the quarter ending September 30 of a year, an amount
equal to one million three hundred seventy-five thousand
dollars ($1,375,000).
(2) For the quarter ending December 31 of a year, an amount
equal to:
(A) six hundred twenty-five thousand dollars ($625,000);
plus
(B) the greater of zero (0) or the result of:
(i) the limit determined for the previous quarter under this
subsection; minus
(ii) the aggregate amount of claims approved for the
previous quarter.
(3) For the quarter ending March 31 of a year, an amount equal
to:
(A) six hundred twenty-five thousand dollars ($625,000);
plus
(B) the greater of zero (0) or the result of:
(i) the limit determined for the previous quarter under this
subsection; minus
(ii) the aggregate amount of claims approved for the
previous quarter.
(4) For the quarter ending June 30 of a year, an amount equal
to:
(A) eight hundred seventy-five thousand dollars ($875,000);
plus
(B) the greater of zero (0) or the result of:
(i) the limit determined for the previous quarter under this
subsection; minus
(ii) the aggregate amount of claims approved for the
previous quarter.
As added by P.L.222-1999, SEC.6.
Last modified: May 28, 2006