IN HB1038

Eliminates the add-back of the federal deduction for domestic production activities under Section 199 of the Internal Revenue Code from the definition of "adjusted gross income" for Indiana income tax purposes.

Applies to individuals, corporations, life insurance companies, and insurance companies subject to Indiana taxation.

Effective January 1, 2014, with retroactive application.

Updates numbering of related adjustments to adjusted gross income in IC 6-3-1-3.5, IC 6-3-2-4, and IC 6-5.5-1-2.

Provisions expire January 1, 2017, unless extended.