The indictment recommends a heavy sentence for Lu Chung-chi if convicted over the July 27 disaster at the Formosa Fun Coast park in a suburb of the island's capital, Taipei.
The charges in the indictment also include causing injury and serious injury through professional negligence.
Lu was arrested soon after the incident at the "Color Play Asia" party and has apologised and accepted responsibility for his role in the deaths and injuries.
Its Taiwanese manufacturer said it had no knowledge of its intended use and said it posed a risk of igniting if densely applied at high temperature.
The park was ordered closed after the disaster and the island's premier banned the use of such powder at all future events.
The roughly 500 injured also included victims from Singapore, Hong Kong, mainland China and the US.
In recent years, "colour runs" and "color parties" have grown popular in many countries, inspired by the use of such powder by revelers during the annual Holi celebrations in India and Nepal.
