More agencies will be vying for a piece of the city’s income-tax revenue as next year’s budget process begins. But with that money flat-lined next year, city leaders say there may not be enough to share.
Sales tax collections were $28 million above May collections last year, and individual income tax collections were $177 million above the same time in 2010. Strong employment and income growth had a lot to do with it.
Legislators are moving ahead with a plan to cut Indiana's corporate income tax by about 40 percent while holding off on phasing out the state inheritance tax.
Governor, economic development officials look to lure companies to Indiana that now may find doing business in Illinois too costly. But a few experts question whether the state will see any immediate benefits.
The State Department of Revenue estimates the change will affect about 1 million taxpayers and save the state about $200,000 in the next fiscal year.
Millions of homeowners, however, might feel like they got a lump of coal. Homeowners who don’t itemize their deductions will lose a tax break for paying local property taxes.
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.
Federal prosecutors allege man embezzled $1.6 million from a title insurance company.
After 30 years of government
studies of a regional transportation system, a private-sector group on Wednesday is set to unveil its own
plan that includes commuter rail and toll lanes added to congested interstate highways.
Indiana taxpayers filed a record 2.2 million electronic federal tax returns this year.
The association representing 470 cities and towns wants lawmakers to pass legislation that would give municipalities the authority
to adopt local option income taxes.
Indiana is becoming more business-friendly, according to the latest national ranking from the Tax Foundation, which moved the state
up two places to 12th.
Put some progressivity into Indiana tax rates when passing the Indiana state budget.
Let’s reflect on the origins of the current income tax system to help understand it better.
Shoring up the state’s jobless-fund shortfall likely will cost employers and employees more.
