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Introduced Senate Bill (S)

DIGEST

Tax credit for bridge toll expenses. Provides a state tax credit to qualified businesses that pay tolls to cross certain Ohio River bridges. Provides that a qualified business is a business entity that: (1) is authorized to transact business in Indiana; (2) maintains its principal office, or a branch office, in Clark County or Floyd County; (3) incurs at least $500 of qualified toll expenses to cross certain Ohio River bridges during a taxable year; and (4) has a Riverlink commercial account. Provides that the amount of the tax credit may not exceed the lesser of: (1) the amount of Tax credit for bridge toll expenses. Provides a state tax credit to qualified businesses that pay tolls to cross certain Ohio River bridges. Provides that a qualified business is a business entity that: (1) is authorized to transact business in Indiana; (2) maintains its principal office, or a branch office, in Clark County or Floyd County; (3) incurs at least $500 of qualified toll expenses to cross certain Ohio River bridges during a taxable year; and (4) has a Riverlink commercial account. Provides that the amount of the tax credit may not exceed the lesser of: (1) the amount of qualified toll expenses paid by the qualified business during the taxable year; or (2) $1,000. Provides that a business entity wishing to claim the credit must file an application with the department of state revenue during the taxable year requesting certification of the business entity as a qualified business for that taxable year. ... View more