Indiana SB0263 introduces a refundable child and dependent care tax credit for taxpayers with adjusted gross income up to 250% of the federal poverty.

Indiana SB0263 establishes a refundable child and dependent care tax credit for taxpayers with adjusted gross income up to 250% of the federal poverty level. The credit amount varies based on income levels, ranging from $200 to $1,000. It applies to employment-related expenses incurred to enable the taxpayer to be gainfully employed. The credit is refundable if it exceeds the taxpayer's state income tax liability. The bill also includes provisions for the Department of Revenue to implement the credit through rules.

Indiana SB0263 introduces a refundable child and dependent care tax credit for taxpayers with adjusted gross income up to 250% of the federal poverty.

Indiana SB0263 establishes a refundable child and dependent care tax credit for taxpayers with adjusted gross income up to 250% of the federal poverty level. The credit amount varies based on income levels, ranging from $200 to $1,000. It applies to employment-related expenses incurred to enable the taxpayer to be gainfully employed. The credit is refundable if it exceeds the taxpayer's state income tax liability. The bill also includes provisions for the Department of Revenue to implement the credit through rules.