Ind. Code » Title 6
Indiana Code

Ind. Code § 6-3-2-2.8 (2026)

Exemption; nonprofit entities; Subchapter S corporations; financial institutions; insurance companies; international banking facilities

✓ current as of May 2026
Find cases: SyfertCases citing this section JustiaInd. Code CornellLII Search CasesGoogle Scholar

     Sec. 2.8. Notwithstanding any provision of IC 6-3-1 through IC 6-3-7, there shall be no tax on the adjusted gross income of the following:

(1) Any organization described in Section 501(a) of the Internal Revenue Code, except that any income of such organization which is subject to income tax under the Internal Revenue Code shall be subject to the tax under IC 6-3-1 through IC 6-3-7.

(2) Any corporation which is exempt from income tax under Section 1363 of the Internal Revenue Code and which complies with the requirements of IC 6-3-4-13. However, income of a corporation described under this subdivision that is subject to income tax under the Internal Revenue Code is subject to the tax under IC 6-3-1 through IC 6-3-7. A corporation will not lose its exemption under this section because it fails to comply with IC 6-3-4-13 but it will be subject to the penalties provided by IC 6-8.1-10. Any corporation that is exempt from income tax under Section 1363 of the Internal Revenue Code and that makes an election under IC 6-3-2.1 for a taxable year shall be subject to tax as provided in IC 6-3-2.1 for the taxable year of the election.

(3) Banks and trust companies, national banking associations, savings banks, building and loan associations, and savings and loan associations.

(4) Insurance companies or organizations offering nonprofit agricultural organization insurance coverage subject to tax under any of the following:

(A) IC 27-1-18-2, including a domestic insurance company that elects to be taxed under IC 27-1-18-2.

(B) IC 27-1-2-2.3.

(C) IC 6-8-15, unless a nonprofit agricultural organization:

(i) files a notice of election with the insurance commissioner and the commissioner of the department on or before November 30 of a taxable year; and

(ii) states in the notice of election that the organization elects to be subject to the tax imposed under IC 6-3-1 through IC 6-3-7 for the taxable year.

(5) International banking facilities (as defined in Regulation D of the Board of Governors of the Federal Reserve System (12 CFR 204)).

As added by P.L.47-1984, SEC.5. Amended by P.L.42-1993, SEC.3; P.L.18-1994, SEC.8; P.L.192-2002(ss), SEC.74; P.L.129-2014, SEC.1; P.L.1-2023, SEC.4; P.L.194-2023, SEC.14.

 

Notes of Decisions
Cited in 6 cases, 1996–2013 · leading case: Indiana Dep't of Revenue v. United Parcel Serv., Inc., 969 N.E.2d 596 (Ind. 2012).
Sort: Relevance Newest Treatment
Indiana Dep't of Revenue v. United Parcel Serv., Inc., 969 N.E.2d 596 (Ind. 2012). · cites it 12× “See Ind.Code §§ 6-3-2-2.8(4), 27-l-18-2(d) (2000 supp.”
Majestic Star Casino, LLC v. Barden Dev., Inc., 716 F.3d 736 (3rd Cir. 2013). “Ind.Code Ann. § 6-3-2-2.8(2). BDI was therefore treated as a disregarded entity by Indiana tax authorities as well.”
Cooper Indus., Inc. v. Indiana Dep't of State Revenue, 673 N.E.2d 1209 (Ind. T.C. 1996). · cites it 2× “The Department attempts to distinguish Wilhelm on the grounds that in that case this Court relied in part on the fact that Ind.Code Ann. § 6-3-2-2.8 expressly exempted sub-chapter S corporations from Indiana tax, “notwithstanding any provision of IC 6-3-1 through IC 6-3-7.”
Riverboat Dev., Inc. v. Indiana Dep't of State Revenue, 881 N.E.2d 107 (Ind. T.C. 2008). “Indiana Code § 6-3-4-13(a) provides, however, that such corporations “shall, at the time that [they] pay[ ] or eredit[ ] amounts to any of [their] nonresident shareholders as dividends or as their share of the corporation^’] undistributed taxable income, withhold the amount…”
Majestic Star Casino, LLC v. Barden Dev., Inc. (In re Majestic Star Casino, LLC), 466 B.R. 666 (Bankr. D. Del. 2012). “§§ 1361 (b)(3)(A), 1362(a), 1366(a)-(b); Ind.Code § 6-3-2-2.8(2); 26 C.F.R. § 1.1361-4 (a).”
United Parcel Serv., Inc. v. Indiana Dep't of State Revenue, 995 N.E.2d 20 (Ind. T.C. 2013). · cites it 14× “The mat *21 ter, currently before the Court on UPS’s motion for summary judgment, presents two issues which the Court restates as: 1) whether foreign reinsurance companies must be physically present in Indiana to satisfy the statutory requirement of “doing business” under…”
— Ind. Code § 6-3-2-2.8(2) — 3 cases
Majestic Star Casino, LLC v. Barden Dev., Inc., 716 F.3d 736 (3rd Cir. 2013). “Ind.Code Ann. § 6-3-2-2.8(2). BDI was therefore treated as a disregarded entity by Indiana tax authorities as well.”
Riverboat Dev., Inc. v. Indiana Dep't of State Revenue, 881 N.E.2d 107 (Ind. T.C. 2008). “Indiana Code § 6-3-4-13(a) provides, however, that such corporations “shall, at the time that [they] pay[ ] or eredit[ ] amounts to any of [their] nonresident shareholders as dividends or as their share of the corporation^’] undistributed taxable income, withhold the amount…”
Majestic Star Casino, LLC v. Barden Dev., Inc. (In re Majestic Star Casino, LLC), 466 B.R. 666 (Bankr. D. Del. 2012). “§§ 1361 (b)(3)(A), 1362(a), 1366(a)-(b); Ind.Code § 6-3-2-2.8(2); 26 C.F.R. § 1.1361-4 (a).”
— Ind. Code § 6-3-2-2.8(4) — 2 cases
Indiana Dep't of Revenue v. United Parcel Serv., Inc., 969 N.E.2d 596 (Ind. 2012). “See Ind.Code §§ 6-3-2-2.8(4), 27-l-18-2(d) (2000 supp.”
United Parcel Serv., Inc. v. Indiana Dep't of State Revenue, 995 N.E.2d 20 (Ind. T.C. 2013). “The mat *21 ter, currently before the Court on UPS’s motion for summary judgment, presents two issues which the Court restates as: 1) whether foreign reinsurance companies must be physically present in Indiana to satisfy the statutory requirement of “doing business” under…”
Annotations are extracted automatically from the opinions in the Syfert caselaw corpus and ranked by authority, recency, and treatment. Dots show Syfertize treatment of the citing case itself.