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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowLegislation has been introduced in the Indiana House that would look at the nearly 120 corporate tax breaks now in Indiana code to see if the incentives are improving the economy, reports The News-Dispatch of Michigan City.
State Rep. Scott Pelath, D-Michigan City, who introduced House Bill 1242, believes tax breaks that haven’t created jobs or enhanced diversity in the work place should be removed.
The bill also would require companies to file combined tax returns with their subsidiaries in order to make it difficult for parent or holding companies to transfer their Indiana profits to other businesses they own.
If enacted, the legislation would create a panel to review each break. Those deemed worthwhile would remain; those determined to have little to no impact would end July 2009.
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