Senate Bill 0236
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DIGEST OF SB236 (Updated February 2, 2010 2:24 pm - DI 84)
State tax matters. Amends the definition of federal "Internal Revenue Code" used in Indiana statutes and rules to refer to the Internal Revenue Code in effect on January 1, 2010. Requires that two years be used for the net operating loss carryback period for taxpayers (instead of the five years allowed under the federal Worker, Homeownership, and Business Assistance Act of 2009). Requires that federal income tax withholding statements and annual withholding tax reports must be filed electronically with the department of state revenue if an employer or a person or entity acting on behalf of an employer files more than 25 federal income tax withholding statements with the department in the calendar year. Provides that any entity that submits incremental income tax withholdings, including a nonprofit organization, and that is a high growth company with new high skilled jobs, could qualify for the economic development for a growing economy tax credit if approved for the credit by the Indiana economic development corporation. Repeals the power of Indiana economic development corporation to grant the credit to a specified nonprofit organization. Suspends, for taxable years beginning in 2010 and 2011, the taking of the patent income exemption, teacher summer employment tax credit, enterprise zone loan interest credit, neighborhood assistance credit, maternity home tax credit, enterprise zone investment cost tax credit, community revitalization enhancement district tax credit, the tax credit for making available a health benefit plan, and the small employer qualified wellness program tax credit.
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Conference Committee Reports
- Filed: >0236-1, >0236-1(PDF), >0236-2, >0236-2(PDF), >0236-3, >0236-3(PDF), >0236-4, >0236-4(PDF), >0236-5, >0236-5(PDF), >0236-6, >0236-6(PDF)
- Passed: >0236-6, >0236-6(PDF)