Section 6-3.1-37.2-12 - Application of credit against taxpayer's taxes(a) A credit to which a taxpayer is entitled under this chapter shall be applied against taxes owed by the taxpayer in the following order: (1) Against the taxpayer's adjusted gross income tax liability (IC 6-3-1 through IC 6-3-7) for the taxable year.(2) Against the taxpayer's insurance premiums tax liability (IC 27-1-18-2) for the taxable year.(3) Against the taxpayer's financial institutions tax (IC 6-5.5) for the taxable year.(b) Whenever the tax paid by the taxpayer under any of the tax provisions listed in subsection (a) is a credit against the liability or a deduction in determining the tax base under another Indiana tax provision, the credit or deduction shall be computed without regard to the credit to which a taxpayer is entitled under this chapter.Added by P.L. 214-2023,SEC. 2, eff. 5/4/2023.