§ 6-3-1-4-7

(a) If a pass through entity does not have state income tax liability against which the research expense tax credit may be applied, a shareholder, partner, or member of the pass through entity is entitled to a research expense tax credit equal to:(1) the research expense tax credit determined for the pass through entity for the taxable year; multiplied by(2) the percentage of the pass through entity's distributive income to which the shareholder, partner, or member is entitled.(b) The credit provided under subsection (a) is in addition to a research expense tax credit to which a shareholder, partner, or member of a pass through entity is otherwise entitled under this chapter. However, a pass through entity and a shareholder, partner, or member of the pass through entity may not claim a credit under this chapter for the same qualified research expenses.As added by P.L.57-1990, SEC.6. Amended by P.L.193-2005, SEC.15.