Grants and Incentives

Headquarters Relocation Tax Credit

 

Purpose

Indiana provides a tax credit to corporations that relocate their headquarters to Indiana. The credit equals half the moving costs and is assessed against the corporation’s state tax liability. Indiana’s Department of Revenue determines eligibility. The Headquarters Relocation Tax Credit is established by I.C. 6-3.1-30.

Eligibility

The Department of Revenue determines eligibility based on the following criteria:
The corporation must have annual worldwide revenue of at least $100 million in the taxable year immediately prior to the year in which application is made for the credit.
After relocation, the corporation must have 75 employees in Indiana.
The headquarters is defined as the principal office of the principal executives.

Calculation of Credit

The credit equals 50% of a corporation’s costs of relocating its headquarters to Indiana. An eligible corporation may use the credit to offset the corporation’s Indiana personal and corporate adjusted gross income tax and financial institutions tax. A nine-year carry forward applies to any unused part of the credit.

Centralizing and augmenting operations here allows us to capture the benefits of low-cost living, exceptional higher education, and economic incentives to pass along more value to our customers. Geographically, logistically and economically, Indiana makes sense.

- Greg Ranger, president and chief executive officer, TriMedx