{"data":{"id":"us-in/ic-6-3.1-18-6","jurisdiction":"us-in","citation":"IC 6-3.1-18-6","heading":"Credit; amount; calculation; application","body":"Sec. 6. (a) Subject to the limitations provided in subsection (b) and sections 7, 8, 9, 10, and 11 of this chapter, the department shall grant a tax credit against any state tax liability due equal to fifty percent (50%) of the amount of a qualified contribution made in a taxable year by a business firm or person if the qualified contribution is not less than one hundred dollars ($100) and not more than fifty thousand dollars ($50,000).\n(b) The credit provided by this chapter shall only be applied against any state tax liability owed by the taxpayer after the application of any credits that under IC 6-3.1-1-2 must be applied before the credit provided by this chapter.","path":["TITLE 6. TAXATION","ARTICLE 3.1. STATE TAX LIABILITY CREDITS","Chapter 18. Individual Development Account Tax Credit"],"source_url":"https://iga.in.gov/ic/2026/Title_6.html#6-3.1-18-6","current_through":"2026","vintage":"2026","retrieved_at":"2026-09-09T01:51:39Z","sha256":"cc0885edaf07d2acc37d733f6c1ca69b276950d2e1204e2127778f92af2f9eea","source_id":"us-in","stale":false,"prev":"us-in/ic-6-3.1-18-5","next":"us-in/ic-6-3.1-18-7"},"notice":"GroundRules: Original legal text. Not legal advice."}