IC 6-3.1-24-4.5: "Substantial presence"

Sec. 4.5. (a) As used in this chapter, "substantial presence" means:

(1) maintaining a company headquarters in Indiana; or

(2) maintaining at least seventy-five percent (75%) of a company's total payroll in Indiana.

(b) Notwithstanding subsection (a), a company receiving qualified investment capital from a qualified Indiana investment fund shall be considered to have substantial presence in Indiana if the company commits to relocate:

(1) its headquarters; or

(2) seventy-five percent (75%) of its total payroll;

to Indiana within one (1) year of receiving qualified investment capital from a qualified Indiana investment fund.