State R&D Tax Credits
Indiana
Credit Name: IT-20 REC Indiana Research Expense Tax Credit
Expiration Date: Unknown
Does it apply to C corps and pass-through entities?: Yes
Credit Carry forward: Carry forward 10 years. No Carry back.
Description:
1) Excess QREs defined as the current year QREs less the greater of 50% of QREs or the traditional base amount. Credit is 15% of the first $1M in QREs and 10% of the balance.
2) Excess QREs defined as current year QREs less 50% of the average of the 3 prior year’s QREs (follows the federal Alterantive Simplified). Credit is 10% of the excess. If any of the 3 prior years had no Indiana QREs, credit is 5% of current year QREs.
Other Notes: Credit generated in the current period must be used before any carryforward.
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