IC 6-1.1-8.2
Chapter 8.2. Credit for Railroad Car Maintenance and
Improvements
IC 6-1.1-8.2-1 "Qualified expenditures" defined
Sec. 1. (a) As used in this chapter, "qualified expenditures" means
expenditures made by a taxpayer during a particular calendar year on
the maintenance or improvement in Indiana of railroad cars owned
or used by the taxpayer.
(b) The term includes, but is not limited to, the following:
(1) Expenses for:
(A) labor;
(B) materials; or
(C) overhead;
that are incurred by a taxpayer in the maintenance or
improvement of a railroad car owned or used by the taxpayer.
(2) Payments made by a taxpayer to others for the purpose of
performing the maintenance or improvement of a railroad car. As added by P.L.253-1999, SEC.2.
IC 6-1.1-8.2-2 "Taxpayer" defined
Sec. 2. As used in this chapter, "taxpayer" means a railroad car
company (as defined by IC 6-1.1-8-2). As added by P.L.253-1999, SEC.2.
IC 6-1.1-8.2-3 "Tax liability" defined
Sec. 3. As used in this chapter, "tax liability" means a railroad car
company's tax liability under IC 6-1.1-8-35. The term does not
include interest or penalties. As added by P.L.253-1999, SEC.2.
IC 6-1.1-8.2-4 Entitlement to credit
Sec. 4. A taxpayer is entitled to a credit against the taxpayer's tax
liability in an amount set forth in section 5 of this chapter. As added by P.L.253-1999, SEC.2.
IC 6-1.1-8.2-5 Determination of amount of credit
Sec. 5. (a) Subject to subsection (b), the amount of the credit that
a taxpayer is entitled to under section 4 of this chapter for a
particular calendar year is equal to the lesser of:
(1) twenty-five percent (25%) of the qualified expenditures
made by the taxpayer in the calendar year immediately
preceding the calendar year in which the tax liability is
imposed; or
(2) the taxpayer's total tax liability for the calendar year.
(b) The total amount of credits provided under this chapter in a
calendar year may not exceed two million eight hundred thousand
dollars ($2,800,000). If the total amount of credits applied for in a
calendar year exceeds the maximum provided under this subsection,
each taxpayer's credit shall be reduced by an amount determined
under the following STEPS:
STEP ONE: Divide the maximum amount of credits provided
by this chapter for the year by the total amount of credits
applied for under this chapter for the year.
STEP TWO: Multiply the STEP ONE result by the total amount
of credits applied for by the taxpayer for the year. As added by P.L.253-1999, SEC.2.
IC 6-1.1-8.2-6 Filing expenditure statement
Sec. 6. To obtain the credit provided by section 4 of this chapter
for a particular calendar year, a taxpayer must file with the
department of local government finance an accurate statement of the
qualified expenditures that entitle the taxpayer to a credit. The
statement must be filed:
(1) in the form prescribed by the department of local
government finance; and
(2) with the statement required for the calendar year to which
the credit applies under IC 6-1.1-8-19. As added by P.L.253-1999, SEC.2. Amended by P.L.90-2002,
SEC.88.
IC 6-1.1-8.2
Chapter 8.2. Credit for Railroad Car Maintenance and
Improvements
IC 6-1.1-8.2-1 "Qualified expenditures" defined
Sec. 1. (a) As used in this chapter, "qualified expenditures" means
expenditures made by a taxpayer during a particular calendar year on
the maintenance or improvement in Indiana of railroad cars owned
or used by the taxpayer.
(b) The term includes, but is not limited to, the following:
(1) Expenses for:
(A) labor;
(B) materials; or
(C) overhead;
that are incurred by a taxpayer in the maintenance or
improvement of a railroad car owned or used by the taxpayer.
(2) Payments made by a taxpayer to others for the purpose of
performing the maintenance or improvement of a railroad car. As added by P.L.253-1999, SEC.2.
IC 6-1.1-8.2-2 "Taxpayer" defined
Sec. 2. As used in this chapter, "taxpayer" means a railroad car
company (as defined by IC 6-1.1-8-2). As added by P.L.253-1999, SEC.2.
IC 6-1.1-8.2-3 "Tax liability" defined
Sec. 3. As used in this chapter, "tax liability" means a railroad car
company's tax liability under IC 6-1.1-8-35. The term does not
include interest or penalties. As added by P.L.253-1999, SEC.2.
IC 6-1.1-8.2-4 Entitlement to credit
Sec. 4. A taxpayer is entitled to a credit against the taxpayer's tax
liability in an amount set forth in section 5 of this chapter. As added by P.L.253-1999, SEC.2.
IC 6-1.1-8.2-5 Determination of amount of credit
Sec. 5. (a) Subject to subsection (b), the amount of the credit that
a taxpayer is entitled to under section 4 of this chapter for a
particular calendar year is equal to the lesser of:
(1) twenty-five percent (25%) of the qualified expenditures
made by the taxpayer in the calendar year immediately
preceding the calendar year in which the tax liability is
imposed; or
(2) the taxpayer's total tax liability for the calendar year.
(b) The total amount of credits provided under this chapter in a
calendar year may not exceed two million eight hundred thousand
dollars ($2,800,000). If the total amount of credits applied for in a
calendar year exceeds the maximum provided under this subsection,
each taxpayer's credit shall be reduced by an amount determined
under the following STEPS:
STEP ONE: Divide the maximum amount of credits provided
by this chapter for the year by the total amount of credits
applied for under this chapter for the year.
STEP TWO: Multiply the STEP ONE result by the total amount
of credits applied for by the taxpayer for the year. As added by P.L.253-1999, SEC.2.
IC 6-1.1-8.2-6 Filing expenditure statement
Sec. 6. To obtain the credit provided by section 4 of this chapter
for a particular calendar year, a taxpayer must file with the
department of local government finance an accurate statement of the
qualified expenditures that entitle the taxpayer to a credit. The
statement must be filed:
(1) in the form prescribed by the department of local
government finance; and
(2) with the statement required for the calendar year to which
the credit applies under IC 6-1.1-8-19. As added by P.L.253-1999, SEC.2. Amended by P.L.90-2002,
SEC.88.
IC 6-1.1-8.2
Chapter 8.2. Credit for Railroad Car Maintenance and
Improvements
IC 6-1.1-8.2-1 "Qualified expenditures" defined
Sec. 1. (a) As used in this chapter, "qualified expenditures" means
expenditures made by a taxpayer during a particular calendar year on
the maintenance or improvement in Indiana of railroad cars owned
or used by the taxpayer.
(b) The term includes, but is not limited to, the following:
(1) Expenses for:
(A) labor;
(B) materials; or
(C) overhead;
that are incurred by a taxpayer in the maintenance or
improvement of a railroad car owned or used by the taxpayer.
(2) Payments made by a taxpayer to others for the purpose of
performing the maintenance or improvement of a railroad car. As added by P.L.253-1999, SEC.2.
IC 6-1.1-8.2-2 "Taxpayer" defined
Sec. 2. As used in this chapter, "taxpayer" means a railroad car
company (as defined by IC 6-1.1-8-2). As added by P.L.253-1999, SEC.2.
IC 6-1.1-8.2-3 "Tax liability" defined
Sec. 3. As used in this chapter, "tax liability" means a railroad car
company's tax liability under IC 6-1.1-8-35. The term does not
include interest or penalties. As added by P.L.253-1999, SEC.2.
IC 6-1.1-8.2-4 Entitlement to credit
Sec. 4. A taxpayer is entitled to a credit against the taxpayer's tax
liability in an amount set forth in section 5 of this chapter. As added by P.L.253-1999, SEC.2.
IC 6-1.1-8.2-5 Determination of amount of credit
Sec. 5. (a) Subject to subsection (b), the amount of the credit that
a taxpayer is entitled to under section 4 of this chapter for a
particular calendar year is equal to the lesser of:
(1) twenty-five percent (25%) of the qualified expenditures
made by the taxpayer in the calendar year immediately
preceding the calendar year in which the tax liability is
imposed; or
(2) the taxpayer's total tax liability for the calendar year.
(b) The total amount of credits provided under this chapter in a
calendar year may not exceed two million eight hundred thousand
dollars ($2,800,000). If the total amount of credits applied for in a
calendar year exceeds the maximum provided under this subsection,
each taxpayer's credit shall be reduced by an amount determined
under the following STEPS:
STEP ONE: Divide the maximum amount of credits provided
by this chapter for the year by the total amount of credits
applied for under this chapter for the year.
STEP TWO: Multiply the STEP ONE result by the total amount
of credits applied for by the taxpayer for the year. As added by P.L.253-1999, SEC.2.
IC 6-1.1-8.2-6 Filing expenditure statement
Sec. 6. To obtain the credit provided by section 4 of this chapter
for a particular calendar year, a taxpayer must file with the
department of local government finance an accurate statement of the
qualified expenditures that entitle the taxpayer to a credit. The
statement must be filed:
(1) in the form prescribed by the department of local
government finance; and
(2) with the statement required for the calendar year to which
the credit applies under IC 6-1.1-8-19. As added by P.L.253-1999, SEC.2. Amended by P.L.90-2002,
SEC.88.
