State Credit Name: Indiana Research Expense Tax Credit

Expiration Date: Indefinite

Who Can Apply? Corporations and flow-through entities

Credit Carry Forward: 10 year carry forward period, but no carry back

About the Credit:

• Credit is 15% of the increase in Indiana QRE’s paid or incurred over the base amount up to $1 million.
• The credit is 10% of any excess of QRE’s over $1 million.
• For tax years after 2009, the the Alternative Simplified Credit Method is allowed. The credit is 10% of the excess of the current year’s QRE’s that is in excess of 50% of the average of the previous years’ QRE’s. If the taxpayer does not have 3 prior years of QRE’s then the credit is 5%.

Notes: Research must take place in Indiana.

Click here to find out if you qualify for the federal research credit.