Taxes

Voters expected to OK property-tax cap amendment

October 31, 2010
Associated Press
A recent poll found that more than 60 percent of likely voters support the proposed constitutional amendment, and some of the measure's biggest opponents have given up the fight.
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Ailing library eyes new funding source

October 9, 2010
Francesca Jarosz
A state lawmaker is pushing for a law that would allow Indianapolis’ public library system to get a share of local income taxes. But some already are balking at the concept, saying it would divert money from other agencies that need it.
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Downtown tax district reaps unexpected windfall

September 29, 2010
Francesca Jarosz
The city has accumulated a $12 million surplus of funds from the downtown TIF district, raising questions from critics who wonder how the windfall came about.
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Indiana lawmakers push for Internet taxes

September 23, 2010
Mary Dieter
A bipartisan duo of state lawmakers wants Congress to allow states to collect sales taxes on Internet purchases, a move they say could bring hundreds of millions of dollars to cash-strapped Indiana.
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Debating where to turn as Bush tax cuts near expiration

September 18, 2010
Scott Olson
With a deadline looming, supporters and detractors debate extending tax cuts signed by former president George W. Bush.
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Report: State must cut spending, hike taxes or both

September 9, 2010
Francesca Jarosz
Dwindling tax revenues will cause a projected $1.3 billion budget gap as the state enters its next budget, according a report released Thursday by the Indiana Fiscal Policy Institute.
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Shelbyville, county plan economic development projects

July 17, 2010
Kathleen McLaughlin
Millions of dollars in tax revenue that flows from the Indiana Live casino to local government coffers will be set aside for economic development. Shelbyville Mayor Scott Furgeson hopes to present new projects to the city council in the next month or two.
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State reserves down nearly half despite spending cuts

July 16, 2010
 IBJ Staff and Associated Press
Indiana brought in $957 million less in revenue than it budgeted for fiscal year 2010, forcing it to use almost half its reserves, Indiana State Auditor Tim Berry announced Friday morning.
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Indiana revenue collections tick up, but miss projections

June 3, 2010
Associated Press
The State Budget Agency said Thursday that collections through 11 months of the current fiscal year stand about $1 billion below the budget passed by the General Assembly in June 2009.
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Fieldhouse feud results in tax refund for theater owner

May 24, 2010
Scott Olson
Hollywood Bar and Filmworks owner Ted Bulthaup said higher parking rates following Conseco Fieldhouse's opening drove his patrons away. The IRS agreed.
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Lilly, others cut U.S. tax bills through transfer pricing

May 14, 2010
Bloomberg News
U.S. companies, including Eli Lilly, amassed at least $1 trillion in foreign profits not taxed in the U.S. as of the end of last year. That cumulative total increased 70 percent over three years.
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MOUNAYAR: Indianapolis should rediscover public spaces

May 8, 2010
Michel Mounayar
Too few of the city's revitalization projects are connected by attractive sidewalks, streets, gardens and plazas.
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Struggling firms stash away losses to cut future taxesRestricted Content

April 17, 2010
Peter Schnitzler
Conseco expects its write-offs will be worth more than $800 million over the next 20 years.
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Former Shelbyville office manager charged with embezzlement

April 1, 2010
Federal prosecutors allege man embezzled $1.6 million from a title insurance company.
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MARCUS: Lower business taxes don't stimulate hiring

March 20, 2010
Morton Marcus
A job is the foundation of self-esteem, the linchpin for connecting to the community, the instrument by and through which the individual connects with the greater international marketplace and derives the income that provides security for the family.
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Year delay in unemployment tax hike won't satisfy Uncle SamRestricted Content

March 20, 2010
Peter Schnitzler
Hoosier legislators are crowing about the deal they just brokered to delay a $400 million state tax hike meant to shore up Indiana's bankrupt Unemployment Insurance Trust Fund. Here's what they're not touting: the mandatory federal tax increases every single business in Indiana now faces the next three years.
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HICKS: Taxation not top factor in attracting businessRestricted Content

March 20, 2010
Mike Hicks
Businesses care about taxes to be sure, but the availability of a pool of well-trained workers is at the forefront of most business-location decisions.
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State lawmakers remain divided; deal by Sunday in doubt

March 12, 2010
Associated Press
The impasse between the two parties over a delay in an unemployment-tax increase is expected to drag the legislative session into the weekend. "Nobody is talking right now," says one legislator.
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Talks resume at Statehouse after brief impasse

March 9, 2010
Associated Press
Negotiations on some major issues resumed in the Indiana General Assembly on Monday after a meltdown occurred last week.
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Indiana tax collections for February down $86 million

March 2, 2010
Associated Press
Tax collections for February fell $86 million below a revised December forecast. Revenue is down $166 million in the first three months since that forecast.
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Indiana House OKs tax-increase repeal, jobs bill

February 24, 2010
Associated Press
The Indiana House approved legislation Wednesday that would repeal an unemployment-insurance tax increase and approved a package of tax credits and other incentives designed to create jobs.
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House panel OKs delay in unemployment tax hike

February 17, 2010
Associated Press
An Indiana House committee endorsed legislation Wednesday that would delay for one year increases in taxes that employers pay into the state's bankrupt unemployment insurance fund.
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Meetings start public discussion of regional transit plan

February 16, 2010
Indy Connect will hold its first public forum Tuesday evening to begin the process of gathering public input on a regional transportation plan that proposes raising taxes to build a light-rail line, improve bus service and expand roadways.
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State sells $300 million in Tax Anticipation Notes

January 30, 2010
 IBJ Staff
The proceeds will help more than 120 local government units pay their bills while they wait for their property tax receipts.
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Property tax caps heading to Indiana voters

January 19, 2010
Associated Press
The Indiana Senate has given final approval to a proposal that would allow voters to decide whether property tax limits belong in the state constitution.
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  1. The $104K to CRC would go toward debts service on $486M of existing debt they already have from other things outside this project. Keystone buys the bonds for 3.8M from CRC, and CRC in turn pays for the parking and site work, and some time later CRC buys them back (with interest) from the projected annual property tax revenue from the entire TIF district (est. $415K / yr. from just this property, plus more from all the other property in the TIF district), which in theory would be about a 10-year term, give-or-take. CRC is basically betting on the future, that property values will increase, driving up the tax revenue to the limit of the annual increase cap on commercial property (I think that's 3%). It should be noted that Keystone can't print money (unlike the Federal Treasury) so commercial property tax can only come from consumers, in this case the apartment renters and consumers of the goods and services offered by the ground floor retailers, and employees in the form of lower non-mandatory compensation items, such as bonuses, benefits, 401K match, etc.

  2. $3B would hurt Lilly's bottom line if there were no insurance or Indemnity Agreement, but there is no way that large an award will be upheld on appeal. What's surprising is that the trial judge refused to reduce it. She must have thought there was evidence of a flagrant, unconscionable coverup and wanted to send a message.

  3. As a self-employed individual, I always saw outrageous price increases every year in a health insurance plan with preexisting condition costs -- something most employed groups never had to worry about. With spouse, I saw ALL Indiana "free market answer" plans' premiums raise 25%-45% each year.

  4. It's not who you chose to build it's how they build it. Architects and engineers decide how and what to use to build. builders just do the work. Architects & engineers still think the tarp over the escalators out at airport will hold for third time when it snows, ice storms.

  5. http://www.abcactionnews.com/news/duke-energy-customers-angry-about-money-for-nothing

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