Form It-20np - Nonprofit Organization Unrelated Business Income Tax Booklet

For more information, including limitations and the application

Applications for the credit are filed through the IHCDA by using

process, get Income Tax Information Bulletin #97 at

Form IDA-10/20. You must enclose an approval Form IDA-20

with your return if claiming this credit.

To request additional information about the definitions,

Historic Building Rehabilitation Credit

819

procedures, and qualifications for obtaining this credit, contact:

A credit is available for the rehabilitation or preservation of

Indiana Housing and Community Development Authority, 30 S.

historic property that is listed on the Indiana Register of Historic

Meridian St., Suite 1000, Indianapolis, IN 46204, (317) 232-7777.

Sites and Structures, is at least 50 years old, and is income-

producing. The cost of certified rehabilitation or preservation

Industrial Recovery Credit

824

expenses must exceed $10,000. The credit is 20 percent of the

This credit is based on a taxpayer’s qualified investment in

qualified expenses. Any unused balance of the credit can be

a vacant industrial facility located in a designated industrial

carried forward for up to 15 years. A certification from the

recovery site. The IEDC approves the application for credit and

Division of Historic Preservation and Archaeology must be

the plan for rehabilitation. A lessee of property in an industrial

enclosed with your return.

recovery site may be assigned tax credits based on the owner’s or

developer’s qualified investment within the designated industrial

For additional information, visit the Department of Natural

recovery site. Note: Per IC 6-3.1-11-1, the minimum age for a

Resources website ( ) or call

facility to be eligible for this credit has been reduced from 20

(317) 232-1646. Also, get Income Tax Information Bulletin

years to 15.

#87 at

Get additional information regarding procedures for obtaining

Hoosier Business Investment Credit

820

this credit from the Indiana Economic Development Corporation,

This credit is for qualified investments, which include the

One North Capitol, Suite 700, Indianapolis, IN 46204. You can

purchase of new telecommunications, production, manufacturing,

also call them at (317) 232-8827 or visit

fabrication, processing, refining, and finishing equipment, that are

directly related to expanding the workforce in Indiana. Qualified

Maternity Home Credit

825

investments also include onsite infrastructure improvements,

A credit is allowed for maternity home owners who provide a

construction costs, the cost of retooling existing machinery and

temporary residence to at least one unrelated pregnant woman for

equipment, and costs associated with special purpose buildings

at least 60 consecutive days during her pregnancy. If more than

and foundations. They do not include property that can be readily

one entity has an ownership interest in a maternity home, each

moved out of Indiana.

can claim the credit in proportion to its ownership interest. The

maternity home owner must file an application annually with the

This credit is administered by the Indiana Economic Development

State Department of Health to be eligible to claim this credit.

Corporation at One North Capitol, Suite 700, Indianapolis, IN

46204. Visit their website at or call them at

Note: Per IC 6-3.1-14-9, this credit will not be awarded for tax

(317) 233-3638 for additional information. Also, get Income Tax

years that begin after Dec. 31, 2011. In addition, any credits

Information Bulletin #95 at

previously awarded may not be carried forward during tax years

2012 and 2013. However, they can be carried forward during 2014

Indiana Research Expense Credit

822

and 2015.

Indiana has a research expense credit similar to the federal credit

(Form 6765) for increasing research activities for qualifying

You must enclose a copy of the approved application with your tax

expenses paid in carrying on a trade or business in Indiana.

return before the credit can be taken. Contact the Maternal and

Compute the credit using Schedule IT-20REC, available at

Child Health Division, 2 N. Meridian St., 3rd Floor, Indianapolis,

You must complete this form and

IN 46204, or call them at (317) 233-1253 to obtain an application

enclose a copy of it to claim this credit. For more information,

and more information about this credit.

contact the Department at

Military Base Investment Cost Credit

826

Individual Development Account Credit

823

This credit is available to taxpayers who provide a qualified

A credit is available for contributions made to a community

investment in a business located in a current or former military

development corporation participating in an Individual

base, a military base reuse area, an economic development area, a

Development Account (IDA) program. The IDA program

military base recovery site, or a military base enhancement area.

is designed to assist qualifying low-income residents in

The amount of the credit depends on the type of business, the

accumulating savings and building personal finance skills. The

number of jobs created, and the amount of the investment.

organization must have an approved program number from

the Indiana Housing and Community Development Authority

A taxpayer making a qualified investment in a business located in

(IHCDA) before a contribution qualifies for preapproval. The

a county where the Crane military base is located is also eligible

credit is equal to 50 percent of the contribution, which must be

for the military base investment cost tax credit. A military base

between $100 and $50,000.

enhancement area is extended to comprise portions of three

Form It-20np - Nonprofit Organization Unrelated Business Income Tax Booklet - 2012 Page 20

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