The bill moved through the Indiana General Assembly faster than usual. The chambers usually wait until the halfway point of the session to consider legislation that originated in the opposite chamber.
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The repeal ends a 2.3% tax on thousands of medical devices, from stents and catheters to pacemakers and MRI machines. Indiana is home to 155 device-makers, ranging from small metal shops to multibillion-dollar manufacturers.
The state is expecting an additional $531 million in revenue over the next biennium, according to a forecast released Friday. The additional dollars would bring reserves up to $2.4 billion in 2020 and $2.6 billion in 2021.
The Democratic-controlled House voted Tuesday to approve a $1.4 trillion government-wide spending package with an unusually large load of unrelated provisions on the must-do legislation—including an add-on that would hike the legal age nationwide for purchasing tobacco products.
Republicans hold a supermajority in both chambers of the Indiana General Assembly. But the leadership support doesn’t make the bill a slam dunk.
Elizabeth Warren’s signature “wealth tax” would bring in at least $1 trillion less in new government revenue than the Democratic presidential candidate estimates while ultimately shrinking the economy over the next 30 years, according to a new academic analysis.
President Trump said he has “no deadline” for a deal and didn’t mind waiting until after the election next year to make one. Investors had been hoping for a deal this year, or at least enough progress to stave off new U.S. tariffs on Chinese goods scheduled to start Dec. 15.
A City-County Council Committee on Monday recommended approval of a new tax-increment financing district for the Twin Aire neighborhood, which could lead to development opportunities in an area that will soon be home to the city’s new criminal justice complex.
PlayUSA.com Network, a news and research organization that follows sports gambling and operates PlayNJ.com and PlayIndiana.com, called the first-month data “impressive.”
The sale was scheduled to take place Thursday and Friday but a clerical error forced the Treasurer’s Office to cancel the event. Nearly 1,200 parcels with minimum bids totaling some $6 million were to be auctioned and will now be available at the rescheduled sale in February—unless the owners pay their delinquent taxes.
Under Sen. Bernie Sanders’ plan, the government would increase a firm’s corporate tax rate if its highest-paid employee earns more than 50 times what its average worker does—an attempt to encourage companies to distribute their profits more equitably.
The city of Indianapolis is about to get a boost in road funding from the state—at the expense of other cities and towns—after a discrepancy was found in how the formulas for certain taxes had been applied for years.
For the past 12 years, Chad Halstead, 39, has helped land government incentives for some of the area’s biggest real estate developments.
Judge Jane Magnus-Stinson said the former attorney and tax preparer “has a complete lack of respect for the law, for the tax code, his fellow citizens and for the court.”
Indiana will become the 12th state—and the first in the midst of major Midwest markets—with sports betting when a new state law takes effect Sunday.
The first phase in the rollout of the online system will allow corporations, not-for-profits and other businesses to register for e-services, view tax documents, file and amend tax returns and pay taxes.
Financier George Soros, heiresses Liesel and Regan Pritzker, Abigail Disney and Facebook Inc. co-founder Chris Hughes are among those calling for the levy to help address income inequality.
By year's end, legalization is possible in a dozen states in the Northeast and Midwest. But most states in the Deep South and far West are staying on the sidelines, at least for now.