Ind. Code ch. 6-3.1-30

in effect

Ind. Code § 6-3.1-30-1 "Corporate headquarters"

Sec. 1. As used in this chapter, "corporate headquarters" means the building or buildings where one (1) or more of the following are located: (1) The principal offices of the principal executive officers of an eligible business. (2) The principal offices of a division or similar subdivision of an eligible business. (3) A research and development center of an eligible business. As added by P.L.193-2005, SEC.21. Amended by P.L.288-2013, SEC.60.

Ind. Code § 6-3.1-30-1.5 "Corporation"

Sec. 1.5. As used in this chapter, "corporation" refers to the Indiana economic development corporation created under IC 5-28-3 unless the context clearly denotes otherwise. As added by P.L.288-2013, SEC.61.

Ind. Code § 6-3.1-30-2 "Eligible business"

Sec. 2. As used in this chapter, "eligible business" means either of the following: (1) A business that: (A) is engaged in either interstate or intrastate commerce; (B) maintains a corporate headquarters at a location outside Indiana; (C) has not previously maintained a corporate headquarters at a location in Indiana; (D) had annual worldwide revenues of at least fifty million dollars ($50,000,000) for the taxable year immediately preceding the business's application for a tax credit under section 12 of this chapter; and (E) commits contractually to relocating its corporate headquarters to Indiana. (2) A business that: (A) is engaged in either interstate or intrastate commerce; (B) maintains a corporate headquarters at a location outside Indiana; (C) has not previously maintained a corporate headquarters at a location in Indiana; (D) either: (i) received at least four million dollars ($4,000,000) in venture capital in the six (6) months immediately preceding the business's application for a tax credit under section 12 of this chapter; or (ii) closes on at least four million dollars ($4,000,000) in venture capital not later than six (6) months after submitting the business's application for a tax credit under section 12 of this chapter; and (E) commits contractually to relocating: (i) its corporate headquarters to Indiana; or (ii) the number of jobs that equals eighty percent (80%) of the business's total payroll during the immediately preceding quarter to a location in Indiana. As added by P.L.193-2005, SEC.21. Amended by P.L.137-2006, SEC.8; P.L.288-2013, SEC.62; P.L.158-2019, SEC.20.

Ind. Code § 6-3.1-30-3 "Pass through entity"

Sec. 3. As used in this chapter, "pass through entity" means: (1) a corporation that is exempt from the adjusted gross income tax under IC 6-3-2-2.8(2); (2) a partnership; (3) a limited liability company; or (4) a limited liability partnership. As added by P.L.193-2005, SEC.21.

Ind. Code § 6-3.1-30-4 "Qualifying project"

Sec. 4. As used in this chapter, "qualifying project" means the relocation of the corporate headquarters of an eligible business from a location outside Indiana to a location in Indiana. As added by P.L.193-2005, SEC.21.

Ind. Code § 6-3.1-30-5 "Relocation costs"

Sec. 5. As used in this chapter, "relocation costs" means the reasonable and necessary expenses incurred by an eligible business for a qualifying project. The term includes: (1) moving costs and related expenses; (2) the purchase of new or replacement equipment; (3) capital investment costs; and (4) property assembly and development costs, including: (A) the purchase, lease, or construction of buildings and land; (B) infrastructure improvements; and (C) site development costs. The term does not include any costs that do not directly result from the relocation of the business to a location in Indiana. As added by P.L.193-2005, SEC.21.

Ind. Code § 6-3.1-30-6 "State tax liability"

Sec. 6. As used in this chapter, "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 6-5.5 (the financial institutions tax); and (3) IC 27-1-18-2 (the insurance premiums 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. As added by P.L.193-2005, SEC.21.

Ind. Code § 6-3.1-30-7 "Taxpayer"

Sec. 7. As used in this chapter, "taxpayer" means an individual or entity: (1) that has any state tax liability; or (2) in the case of an eligible business under section 2(2) of this chapter, that has any state tax liability or that submits incremental income tax withholdings under IC 6-3-4-8. As added by P.L.193-2005, SEC.21. Amended by P.L.158-2019, SEC.21.

Ind. Code § 6-3.1-30-7.1 "Venture capital"

Sec. 7.1. As used in this chapter, "venture capital" means financing provided by investors that may include equity, convertible debt, or other forms of equity-like investment instruments. As added by P.L.158-2019, SEC.22.

Ind. Code § 6-3.1-30-7.5 Duties of the corporation

Sec. 7.5. The corporation shall do the following: (1) Evaluate a taxpayer's relocation project for the taxpayer's eligibility for a tax credit under this chapter. (2) Certify the eligibility of taxpayers that meet the requirements for a tax credit under this chapter. (3) Determine the percentage used to calculate the amount of a tax credit under section 9 of this chapter. (4) Certify the information required under section 12 of this chapter. As added by P.L.288-2013, SEC.63.

Ind. Code § 6-3.1-30-8 Tax credit

Sec. 8. Subject to entering into an agreement with the corporation under sections 14 and 15 of this chapter if the corporation certifies that a taxpayer: (1) is an eligible business; (2) completes a qualifying project; and (3) incurs relocation costs; the taxpayer is entitled to a credit against the taxpayer's state tax liability for the taxable year in which the relocation costs are incurred. Subject to IC 5-28-6-9, the credit allowed under this section is equal to the amount determined under section 9 of this chapter. As added by P.L.193-2005, SEC.21. Amended by P.L.137-2006, SEC.9; P.L.1-2007, SEC.58; P.L.288-2013, SEC.64; P.L.158-2019, SEC.23; P.L.135-2022, SEC.12; P.L.213-2025, SEC.80.

Ind. Code § 6-3.1-30-9 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) a percentage determined by the corporation that may not exceed 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. However, this subsection does not apply to a taxpayer that qualifies as an eligible business under section 2(2) of this chapter. As added by P.L.193-2005, SEC.21. Amended by P.L.288-2013, SEC.65; P.L.158-2019, SEC.24.

Ind. Code § 6-3.1-30-10 Pass through entity; shareholder, partner, or member

Sec. 10. If a pass through entity is entitled to a credit under section 8 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.193-2005, SEC.21.

Ind. Code § 6-3.1-30-11 Carryover; unused tax credit; refundable at the discretion of the corporation

Sec. 11. (a) If the credit provided by this chapter exceeds the taxpayer's state tax liability for the taxable year for which the credit is first claimed, the excess may be carried forward to succeeding taxable years and used as a credit against the taxpayer's state tax liability during those taxable years. Each time that the credit is carried forward to a succeeding taxable year, the credit is to be reduced by the amount that was used as a credit during the immediately preceding taxable year. The credit provided by this chapter may be carried forward and applied to succeeding taxable years for nine (9) taxable years following the unused credit year. (b) A taxpayer that qualifies as an eligible business under section 2(1) of this chapter is not entitled to any carryback or refund of any unused credit. (c) In the case of a taxpayer that qualifies as an eligible business under section 2(2) of this chapter, if the credit provided by this chapter exceeds the taxpayer's state tax liability, the excess may, at the discretion of the corporation, be refunded to the taxpayer. An eligible business under section 2(2) of this chapter is not entitled to carryback any unused credit. As added by P.L.193-2005, SEC.21. Amended by P.L.158-2019, SEC.25.

Ind. Code § 6-3.1-30-12 Claiming tax credit; returns; information required by department of state revenue

Sec. 12. To receive the credit provided by this chapter, a taxpayer must claim the credit on the taxpayer's state tax return or returns in the manner prescribed by the department. The taxpayer shall submit to the department the corporation's certification of the following information: (1) Proof of the taxpayer's relocation costs. (2) All other information that the department determines is necessary for the calculation of the credit provided by this chapter. As added by P.L.193-2005, SEC.21. Amended by P.L.137-2006, SEC.10; P.L.288-2013, SEC.66; P.L.118-2024, SEC.12.

Ind. Code § 6-3.1-30-13 Determination of expenses resulting from relocation

Sec. 13. In determining whether an expense of the eligible business directly resulted from the relocation of the business, the department shall consider whether the expense would likely have been incurred by the eligible business if the business had not relocated from its original location. As added by P.L.193-2005, SEC.21.

Ind. Code § 6-3.1-30-14 Application; requirement to enter into an agreement with the corporation

Sec. 14. (a) To be awarded a credit under this chapter, a taxpayer must submit an application to the corporation and enter into an agreement with the corporation. (b) The corporation shall prescribe the form of the application. (c) A taxpayer may claim a credit awarded after June 30, 2019, against the taxpayer's state tax liability for a taxable year only if the corporation awards a credit to the taxpayer and enters into an agreement with the taxpayer under section 15 of this chapter. The corporation may deny an application for a credit under this chapter in its sole discretion. A taxpayer may not seek judicial review of a decision by the corporation to deny a taxpayer's application for a credit. As added by P.L.158-2019, SEC.26.

Ind. Code § 6-3.1-30-15 Provisions required in an agreement

Sec. 15. (a) The corporation shall require the taxpayer to enter into an agreement with the corporation as a condition of receiving a credit under this chapter. (b) The agreement with the corporation must: (1) prescribe the method of certifying the taxpayer's qualified investment; (2) include provisions that authorize the corporation to work with the department and the taxpayer, if the corporation determines that the taxpayer is noncompliant with the terms of the agreement or the provisions of this chapter, to bring the taxpayer into compliance or to protect the interests of the state; and (3) require the taxpayer to: (A) maintain its corporate headquarters at a location in Indiana if the business qualifies as an eligible business under section 2(1) of this chapter; or (B) maintain either: (i) its corporate headquarters at a location in Indiana if the business qualifies as an eligible business under section 2(2) of this chapter; or (ii) the number of jobs that equals eighty percent (80%) of the business's total payroll at a location in Indiana if the business qualifies as an eligible business under section 2(2) of this chapter; for not less than five (5) consecutively succeeding calendar years following the calendar year in which the taxpayer first incurs qualifying relocation expenses. As added by P.L.158-2019, SEC.27.

Ind. Code § 6-3.1-30-16 Noncompliance with agreement; assessments

Sec. 16. (a) If the corporation determines that a taxpayer who has claimed a credit under this chapter is not entitled to the credit because of the taxpayer's noncompliance with the requirements of the tax credit agreement or any of the provisions of this chapter, the corporation shall, after giving the taxpayer an opportunity to explain the noncompliance: (1) notify the department of the noncompliance; and (2) request the department to impose an assessment on the taxpayer in an amount that may not exceed the sum of any previously allowed credits under this chapter together with interest and penalties required or permitted by law. (b) The department shall impose an assessment on a taxpayer if requested by the corporation under subsection (a), unless the assessment is unsupported by law. (c) Notwithstanding the provisions of IC 6-8.1-5-2, an assessment is considered timely if the department issues a proposed assessment: (1) not later than one hundred eighty (180) days from the date the department is notified of the noncompliance; or (2) the date on which the proposed assessment could otherwise be issued in a timely manner under IC 6-8.1-5-2; whichever is later. As added by P.L.158-2019, SEC.28.

Ind. Code § 6-3.1-30-17 Credit subject to annual aggregate credit limit

Sec. 17. A tax credit awarded under this chapter is subject to the limitations set forth in IC 5-28-6-9. As added by P.L.213-2025, SEC.81.

Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://iga.in.gov/laws/2026/ic/titles/6Fetched: 10/17/2026