{"data":{"id":"us-in/ic-6-3.1-40-6","jurisdiction":"us-in","citation":"IC 6-3.1-40-6","heading":"Credit; eligibility; amount","body":"Sec. 6. If a taxpayer:\n(1) has an ownership interest in a physician owned medical practice described in section 5(2) of this chapter that:\n(A) is established as a legal entity under Indiana law after December 31, 2023;\n(B) opens and begins to provide health care services to patients in a particular calendar year beginning after December 31, 2023; and\n(C) has billed for health care services for at least six (6) months of a calendar year;\n(2) has an ownership interest in the income of the physician owned medical practice that is at least:\n(A) for a physician owned medical practice with not more than ten (10) owners, five percent (5%) of the physician owned medical practice's income; and\n(B) for a physician owned medical practice with more than ten (10) owners, fifty percent (50%) of the physician owned medical practice's income divided by the number of physicians who own an interest in the physician owned medical practice; and\n(3) provided health care services in the physician owned medical practice for at least six (6) months of a calendar year;\nthe taxpayer may, subject to sections 7 and 9.5 of this chapter, claim a credit against the taxpayer's state income tax liability. Subject to sections 8 and 11 of this chapter, the amount of the credit allowed under this chapter for a taxpayer in the particular calendar year is twenty thousand dollars ($20,000).","path":["TITLE 6. TAXATION","ARTICLE 3.1. STATE TAX LIABILITY CREDITS","Chapter 40. Physician Practice Ownership Tax Credit"],"source_url":"https://iga.in.gov/ic/2026/Title_6.html#6-3.1-40-6","current_through":"2026","vintage":"2026","retrieved_at":"2026-09-09T01:51:39Z","sha256":"b98195afa63788320700dbc8499dc32476103252cdf6752a701b0d0be8be53b1","source_id":"us-in","stale":false,"prev":"us-in/ic-6-3.1-40-5","next":"us-in/ic-6-3.1-40-7"},"notice":"GroundRules: Original legal text. Not legal advice."}