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Home » US Law » 2022 Indiana Code » Title 6. Taxation » Article 3. State Income Taxes » Chapter 2. Imposition of Tax and Deductions

6-3-2-2.5-b. Resident Persons; Net Operating Loss; Adjusted Gross Income

     Note: This version of section effective 1-1-2023. See also preceding version of this section, effective until 1-1-2023. Sec. 2.5. (a) This section applies to a resident person. (b) Resident persons are entitled to a net operating loss deduction. The amount of the deduction taken in a taxable year may not exceed the taxpayer’s unused Indiana […]

6-3-2-2.5. Resident Persons; Net Operating Loss; Adjusted Gross Income

     Note: This version of section effective until 1-1-2023. See also following version of this section, effective 1-1-2023. Sec. 2.5. (a) This section applies to a resident person. (b) Resident persons are entitled to a net operating loss deduction. The amount of the deduction taken in a taxable year may not exceed the taxpayer’s unused Indiana […]

6-3-2-2.6-b. Corporations and Nonresident Persons; Net Operating Losses

     Note: This version of section effective 1-1-2023. See also preceding version of this section, effective until 1-1-2023. Sec. 2.6. (a) This section applies to a corporation or a nonresident person. (b) Corporations and nonresident persons are entitled to a net operating loss deduction. The amount of the deduction taken in a taxable year may not […]

6-3-2-2.6. Corporations and Nonresident Persons; Net Operating Losses

     Note: This version of section effective until 1-1-2023. See also following version of this section, effective 1-1-2023. Sec. 2.6. (a) This section applies to a corporation or a nonresident person. (b) Corporations and nonresident persons are entitled to a net operating loss deduction. The amount of the deduction taken in a taxable year may not […]

6-3-2-2.7. Team Members; Indiana Income; Rules

Sec. 2.7. (a) As used in this section: (1) “Bonus for services rendered as a team member” includes: (A) a bonus earned as a result of play during the season, such as a performance bonus, including a bonus paid for a championship, playoff, or bowl game played by a team, or for selection to an […]

6-3-2-20. Corporations; Intangible Expenses; Directly Related Interest Expenses; Exceptions

Sec. 20. (a) The following definitions apply throughout this section: (1) “Affiliated group” has the meaning provided in Section 1504 of the Internal Revenue Code, except that the ownership percentage in Section 1504(a)(2) of the Internal Revenue Code shall be determined using fifty percent (50%) instead of eighty percent (80%). (2) “Directly related interest expenses” […]

6-3-2-21.7. Exemption for Certain Income Derived From Patents

Sec. 21.7. (a) This section applies to a qualified patent issued to a taxpayer after December 31, 2007. (b) As used in this section, “invention” has the meaning set forth in 35 U.S.C. 100(a). (c) As used in this section, “qualified patent” means: (1) a utility patent issued under 35 U.S.C. 101; or (2) a […]

6-3-2-22. Deduction; Unreimbursed Education Expenditures

Sec. 22. (a) The following definitions apply throughout this section: (1) “Dependent child” means an individual who: (A) is eligible to receive a free elementary or high school education in an Indiana school corporation; (B) qualifies as a dependent (as defined in Section 152 of the Internal Revenue Code) of the taxpayer; and (C) is […]

6-3-2-24. Income Tax Exemption; Olympic Medalist

Sec. 24. (a) This section applies to a taxable year beginning after December 31, 2013. (b) As used in this section, “international committee” refers to the International Olympic Committee and the International Paralympic Committee. (c) As used in this section, “Olympic games” refers to an international sports competition conducted every two (2) years by an […]

6-3-2-3. Repealed

Formerly Acts 1963(ss)c.32, s.205; Acts 1965, c.233, s.14. Amended by Acts 1981, P.L.77, SEC.9; P.L.79-1983, SEC.2, P.L.82-1983, SEC.5. Repealed by P.L.47-1984, SEC.7(b).

6-3-2-3.1. Taxation; Nonprofit Entities; Unrelated Business Income

Sec. 3.1. (a) Except as otherwise provided in subsection (b), income is not exempt from the adjusted gross income tax under section 2.8(1) of this chapter if the income is derived by the exempt organization from an unrelated trade or business, as defined in Section 513 of the Internal Revenue Code. (b) This section does […]

6-3-2-3.2. Indiana Income of Race Team Members

Sec. 3.2. (a) The following definitions apply to this section: (1) “Bonus for services rendered as a race team member” includes: (A) a bonus earned as a result of participation in a racing event, such as a performance bonus or any other bonus; and (B) a bonus paid for signing a contract, unless all of […]

6-3-2-3.5. Exemption; Fares for Public Transportation Services

Sec. 3.5. (a) For purposes of this section, “public transportation services” means the transportation of individuals for hire. (b) All fares collected for public transportation services are exempt from the income taxes imposed by this article if the fares are received by a: (1) public transportation corporation established under IC 36-9-4; (2) public transit department […]

6-3-2-4. Military Service Deduction; Retirement Income or Survivor’s Benefits Deduction

Sec. 4. (a) Each taxable year, an individual, or the individual’s surviving spouse, is entitled to the following: (1) An adjusted gross income tax deduction for the first five thousand dollars ($5,000) of income, excluding adjusted gross income described in subdivision (2), received during the taxable year by the individual, or the individual’s surviving spouse, […]

6-3-2-5. Repealed

As added by Acts 1978, P.L.37, SEC.2. Repealed by P.L.36-2015, SEC.3; P.L.250-2015, SEC.17.