Web10 aug. 1999 · SUMMARY A deduction for state taxes paid by a corporation will generally be disallowed and added back in arriving at corporate net income if the tax sought to be deducted is intended to tax the corporation's activities or presence in the state as a whole. WebThis can lead to differences in both year-over-year depreciation deductions and gain or loss on the disposal of an asset.16 4. Unique Treatment of Disregarded Entities Although many states tend to follow an entity’s classifi cation under federal check-the-box provisions,17there are exceptions.

Income Tax Topics: State Income Tax Addback

WebCode 149 – Distributive share of gross income Code 147 – Distributive share of gross income from farming If the following codes are reported on these lines, transfer the … WebA new credit (869) is available for qualified film and media productions. The Adoption Credit has been increased to 20% of the federal adoption credit or $2,500 per eligible child, whichever is less. Also, there is a $2,500 cap per eligible child if … htw summer school

Indiana IT-40 Income Tax Instruction Booklet - TaxFormFinder

Web163 Addback on early dispositions IT-603 165FSI EZ investment tax credit (and employment incentive credit) IT-605 165 Addback on early dispositions IT-605 166QEZE credit for real property taxes IT-606 166 Addback IT-606 169 Brownfield redevelopment tax credit addback IT-611.2 170Brownfield redevelopment tax credit addback IT-611.1 Web27 nov. 2024 · While Indiana has a cap on the amount of Indiana Section 179 Allowance that can be claimed during the first year, Indiana follows the federal phase-out … Web16 apr. 2024 · Section 179 Deduction allowances are very helpful for small and medium-sized companies. Many will get significant savings from using this method. However, … htwsstks masonic