Taxes

Deals expected on Indiana inheritance tax, tax refund

February 27, 2012
Associated Press
Budget leaders in the Indiana Legislature are nearing agreement on plans for phasing out the state's inheritance tax and changing the automatic taxpayer refund so that it could only be triggered every other year.
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Couple accused of tax fraud turning the tables on stateRestricted Content

February 25, 2012
Greg Andrews
Real estate investor Chris Marten and his wife, Janice—a longtime Carmel jeweler—charge in a new federal lawsuit that investigators trampled on their constitutional rights during the inquiry, which resulted in 28 criminal charges.
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Councilor seeks review of city's TIF-district strategyRestricted Content

February 11, 2012
Cory Schouten
Brian Mahern, a Democrat on the City-County Council, plans to propose a study commission to examine the effectiveness of TIF districts, how property tax caps will affect them, and ways to increase transparency for the complicated financing vehicles.
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Indiana tax collections below target for January

February 7, 2012
Associated Press
Indiana's state tax collections came in slightly below projections for January, the first monthly shortfall since the new state budget year began last July.
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Should Indiana phase out inheritance tax?Restricted Content

January 28, 2012
Supporters of new legislation say the wealthy shouldn't have to leave the state to avoid the tax.
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State's gambling jackpot starts to shrinkRestricted Content

January 28, 2012
Kathleen McLaughlin
Indiana casinos saw their take from gambling fall in 2011, and new competition in Ohio and perhaps other neighboring states virtually guarantees things will get worse from here.
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Indiana Senate to consider changing tax-refund plan

January 19, 2012
Associated Press
An Indiana Senate committee is advancing a plan to put more money into state savings accounts before automatic tax refunds go out to taxpayers.
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Indiana reaches online sales tax deal with Amazon.com

January 9, 2012
 IBJ Staff and Associated Press
Amazon.com will begin collecting Indiana's 7-percent sales tax from customers in 2014 under an agreement with the state announced Monday.
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Indiana lawmaker: Online tax could replace estate tax

January 3, 2012
Associated Press
State Sen. Luke Kenley is floating the idea of using an online sales tax to help replace revenue that wouldn't be collected if a proposal to eliminate the state's inheritance tax becomes law.
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Budget official: State was warned about tax collections

December 14, 2011
Associated Press
Democrat Erik Gonzalez of the state's budget-forecasting committee said his panel warned the Indiana Department of Revenue something was wrong with corporate tax collections two years before the state discovered it misplaced $320 million.
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Complex accounts made it easy for state to miss $320M

December 11, 2011
Associated Press
Indiana House and Senate Democrats say they want an investigation into how the money went missing for so long. They submitted a letter to the state's budget forecasting committee requesting an independent audit of the state's finances.
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Daniels says state discovers extra $300 million

December 6, 2011
Associated Press
Indiana Gov. Mitch Daniels says the state budget will see a one-time cash infusion of $300 million from tax collections that weren't properly transferred into the general fund.
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EDITORIAL: State can't afford to lose online sales taxRestricted Content

December 3, 2011
The risk is that requiring online retailers to remit the sales tax will chase them away. We think the potential payoffs are worth taking the chance.
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After hiking taxes, Illinois now considers easing them

November 30, 2011
Associated Press
Less than a year after raising personal and corporate income taxes, Illinois officials are pushing a $250 million package of tax breaks for several prominent businesses threatening to leave for more tax-friendly states, including Indiana.
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Indiana retailers making push for online sales tax

November 29, 2011
Associated Press
A new coalition of Indiana retailers is planning a lobbying push aimed at convincing state lawmakers to force online businesses to collect the state's 7-percent sales taxes from customers.
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Study: State loses millions annually in online sales taxes

November 22, 2011
Scott Olson
The report from the Indiana Fiscal Policy Institute says the state loses $40 million to $114 million every year in sales tax revenue from sales to online retailers such as Amazon.
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Homeless advocates pitch local sales-tax hike

November 15, 2011
Kathleen McLaughlin
CHIP, the Coalition for Homelessness Intervention and Prevention, said it wants Marion County taxpayers to create a permanent, dedicated source of funding for housing and services.
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Lawmakers looking for solutions to online sales tax issue

November 4, 2011
Francesca Jarosz
At least one Indiana lawmaker plans to file a bill requiring the state to collect sales taxes from online retailers like Amazon.com. Other state lawmakers are working on a federal solution.
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Indiana continues modest tax-collection gains

November 3, 2011
Associated Press
The state announced Thursday it took in nearly $41 million more than expected last month. The state overshot its estimates by a modest 3.8 percent although collections are vastly improved from a year ago.
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Simon sues state over sales-tax loophole for Amazon.com

November 3, 2011
Cory Schouten
Simon Property Group Inc. has filed suit against the Indiana Department of Revenue in an attempt to force the state to collect sales taxes from Amazon.com Inc.
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Charities disagree on potential impact of tax changeRestricted Content

October 29, 2011
Kathleen McLaughlin
Not-for-profit-sector lobbyists are fighting President Obama’s proposal to limit the tax deduction for charitable donations. Yet some local fundraisers who could be affected by it aren’t concerned.
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Court sides with racinos in tax dispute with state

October 27, 2011
Francesca Jarosz
A federal bankruptcy court has sided with two Indiana racinos in a dispute over their tax burdens, a ruling that could reduce the total amount they pay into state coffers by as much as $30 million per year.
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Indiana senator pushes taxing online sales

October 19, 2011
 IBJ Staff and Associated Press
Sen. Luke Kenley, R-Noblesville, plans to ask his Statehouse colleagues Thursday to help him lobby Congress for the right to tax online sales.
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Lilly gets dinged for job cuts

October 10, 2011
J.K. Wall
Eli Lilly and Co. got called out in a recent report on companies that took advantage of the 2004 tax holiday on foreign profits and have since slashed jobs.
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Indiana doles out $60 million interest payment to fedsRestricted Content

October 8, 2011
 IBJ Staff
The state owes $2 billion in federal unemployment insurance debt.
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