Taxes

Report backs simpler Indiana local tax system

November 13, 2012
Associated Press
A new report on Indiana's local income taxes urges state legislators to simplify a system that has seven types of taxes and a two-year lag before the money collected by the state is distributed to local governments.
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Simon says Sandy caused minimal damage to shopping centers

October 30, 2012
Bloomberg News
A company spokesman said damage was minor at Simon’s malls and outlet centers in New York and other areas hit by the storm.
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EDITORIAL: Council's $15M CIB raid is shortsightedRestricted Content

October 20, 2012
 IBJ Staff
Democrats on the Indianapolis City-County Council who voted to plug a hole in the city budget by charging the Capital Improvement Board $15 million risk creating more problems than they solved.
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Marion County refigures property values amid errors

October 15, 2012
Associated Press
Indianapolis taxpayers wondering what their property is worth might have to wait until December because of widespread errors discovered in local assessments.
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State Senate leader warns city about raiding CIB funds

October 11, 2012
Scott Olson
Council Democrats want to take funds from the Capital Improvement Board's $67 million cash reserve to help shore up the city's budget. But State Sen. Luke Kenley lobbed a threat that might make them think twice about pursuing the proposal.
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CIB standing firm against city plan to tap reserves

October 9, 2012
Scott Olson
The Capital Improvement Board on Monday adopted a formal resolution opposing a plan by some City-County Council Democrats to tap CIB coffers to plug the city's budget gap.
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Indiana House GOP makes no guarantees on tax cuts

October 4, 2012
Associated Press
Tax cuts being pushed by gubernatorial candidates are hardly guaranteed a rubber stamp from lawmakers, and a state constitutional ban on same-sex marriage could win quick approval next year, Republican House Speaker Brian Bosma said Thursday.
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Report: Indy visitors pay high taxes for travel

October 3, 2012
Associated Press
Visitors pay among the highest travel taxes in the nation when they come to Indianapolis — 17 percent on hotel rates, 15 percent on rental cars and 9 percent on meals.
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Council tables vote on TIF proposal after lawsuit

September 17, 2012
Kathleen McLaughlin
Facing a lawsuit from a city activist, the Indianapolis City-County Council put off voting Monday night on a long-delayed proposal to expand a downtown tax-increment financing district.
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Neighborhoods back new 'north-midtown' TIF area

September 17, 2012
Kathleen McLaughlin
The Indianapolis City-County Council will have more than one big tax-increment finance issue to consider at a meeting Monday night. A new TIF district stretching from Fall Creek to White River along College Avenue will be introduced.
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Study: Indiana tax code discourages small businesses

September 15, 2012
Associated Press
A new study of Indiana's business tax structure suggests the state's tax code discourages the small, home-grown businesses often considered the engines of job creation.
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Commuter subsidies often go unnoticedRestricted Content

September 8, 2012
Mason King
In a dark little corner of the tax code known as Section 132(f), the IRS lets employers provide tax-free benefits—typically, payroll deductions and/or subsidies—to employees for commuting costs. That includes vans, buses, bikes, trains, and even parking. And both parties can save, since they’re not getting dinged for their respective taxes on the amount of the benefit.
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Indiana governor hopefuls talk education, infrastructure

August 21, 2012
Associated Press
Despite their political differences, the three men running for Indiana governor outlined similar outlooks for running the state during a forum Tuesday, from proposing improved job training to imposing tax cuts. But which taxes should be cut and when highlighted their differences.
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Hoosier politicians offer tax cuts for all stripes

August 12, 2012
Associated Press
Hoosiers have a pick of candidates looking to succeed Gov. Mitch Daniels who are ready to slash their taxes for them.
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Audit of $526M in state tax errors could take months

July 25, 2012
Associated Press
Representatives of the accounting firm Deloitte told Indiana budget leaders their assessment of what needs to be audited could last through August. The audit itself could take months longer after that.
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Indiana closes year with $2.1B in cash reserves

July 12, 2012
Associated Press
Indiana's state government is sitting on cash reserves of $2.15 billion following a year of continued budget cuts and improved tax collections.
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Daniels touts tax credit from $2B Indiana surplus

July 3, 2012
Associated Press
Indiana Gov. Mitch Daniels is touting state cash reserves he says will send an additional $100 to each Indiana taxpayer through automatic tax credits next year.
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Commission to recommend more limits on local TIFs

June 28, 2012
Kathleen McLaughlin
A study commission on tax-increment financing will vote Thursday evening on a set of policy recommendations that would limit the use of TIF districts in Indianapolis.
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Racing simulator lands real tax break for two-seatersRestricted Content

June 9, 2012
Legislature agreed to extend to Indy Racing Experience the same sales-tax exemption enjoyed by race teams.
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House swipes at health law with repeal of medical device tax

June 8, 2012
Republicans in the U.S. House joined with 37 Democrats to pass a bill repealing a medical-device tax, chipping away at the 2010 health-care law in a victory for companies including Indiana-based Zimmer Holdings Inc. and Boston Scientific Corp.
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Indiana state tax collections take May dip

June 4, 2012
Associated Press
May's state tax revenue came in $143 million below projections. That comes after April's revenue was up about $159 million due to faster-than-usual tax returns processing.
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Local sales tax could aid economic developmentRestricted Content

June 2, 2012
Scott Olson
Most local economic development organizations rely on private contributions and some government money to support their efforts. But an unstable economy has led to some belt-tightening and soul searching on alternative ways to fund the associations.
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Candidate Gregg proposes lifting state's gas tax

April 25, 2012
Associated Press
Democratic gubernatorial hopeful John Gregg's first bite of Hoosier populism is likely to run up against some hard economic realism: $540 million is a lot of money to account for.
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MORRIS: Fair is fair ... or is it?

April 21, 2012
Greg Morris
I always want to make sure I paid my fair share. I can’t stress this point enough. I don’t want to be a slacker.
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Indiana panel set to start review of $205M tax error

April 12, 2012
Associated Press
A leading legislator said he expects the State Budget Committee to take some time reviewing a second computer programming mistake made by the Indiana Department of Revenue that short-changed local governments by about $205 million.
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