Order of application

Ind. Code § 6-3.1-1-2

in effect

Sec. 2. (a) The tax credits a taxpayer is entitled to shall be applied against the taxpayer's tax liabilities in the following order: (1) First, credits which may not be refunded to a taxpayer nor carried over and applied against any tax liability for any succeeding taxable year. (2) Second, credits which may not be refunded to a taxpayer, but which may be carried over and applied against any tax liability for any succeeding taxable year. (3) Third, credits which will be refunded to a taxpayer to the extent the credit exceeds the tax liability it is to be applied against. (b) Credits described in subsection (a)(2) shall be applied against a taxpayer's tax liabilities so that the credits which may be applied to the fewest succeeding taxable years are utilized first. As added by P.L.51-1984, SEC.1.

Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://iga.in.gov/laws/2026/ic/titles/6Fetched: 10/17/2026