Introduced Senate Bill (S)

Authored by

DIGEST

Tax credit for bridge toll expenses. Provides an income 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; and (3) incurs at least $500 of qualified toll expenses to cross certain Ohio River bridges during a taxable year. Provides that the amount of the tax credit may not exceed the lesser of: (1) the amount of qualified toll expenses paid by the Tax credit for bridge toll expenses. Provides an income 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; and (3) incurs at least $500 of qualified toll expenses to cross certain Ohio River bridges during a taxable year. 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) $5,000. 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