State lawmakers approve expanding tax refund eligibility
Indiana House members joined the Senate in approving a bill allowing about 450,000 people who don’t have enough income to owe any state taxes to also be eligible for the $125 refund payments.
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White House, Dems eye pause of gas tax as prices soar, election looms
The early deliberations come days after a group of vulnerable Senate Democrats introduced a bill that would suspend the gas tax of roughly 18 cents per gallon for the rest of the year.
Michigan Senate votes to cut income, corporate tax rates
Republicans who control the Michigan Senate on Tuesday passed a $2.5 billion annual tax cut, voting to lower income and corporate rates while letting people claim a credit for their children and deduct more retirement income.
Indiana Senate committee strips all tax cuts out of House proposal
Republicans in the Indiana Senate gutted House Republicans’ plan for $1 billion in tax cuts within minutes of the bill’s first hearing in the Tax and Fiscal Policy Committee on Tuesday.
White House: File your taxes to get full child tax credit
Workers without children could also get additional help this tax season if they file. The relief package nearly tripled the earned income tax credit for workers without dependent children, meaning that 17 million people could receive credits worth $1,500.
U.S., Japan reach deal to make most steel imports tax-free
U.S. Trade Representative Katherine Tai said the agreement with Japan, along with a separate deal last year on steel with the European Union, will put them in a better place to compete against China, the world’s second largest economy.
Study: Indiana’s property tax burden is shifting to homeowners even without new business tax cut
Residential homeowners in Indiana already pay 45.6% of the property tax burden and that would rise to 51% by 2026 even without a legislative proposal to reduce the business personal property tax, according to a study commissioned by the Association of Indiana Counties.
Fears over revenue impact on local government stall Senate tax cut for business
Indiana Senate Republicans are not moving forward with their own tax cut proposals aimed at reducing business personal property taxes and offering a temporary sales tax holiday, casting doubt on a key provision in the House Republicans’ $1 billion tax-cut plan.
Taxpayers face overloaded IRS as filing season opens Monday
An IRS worker shortage and an enormous workload from administering pandemic-related programs will combine to cause taxpayers pain this filing season.
Indiana to start accepting state tax returns on Monday
The Indiana Department of Revenue encourages taxpayers to use electronic filing, online payment and direct deposit to significantly improve the quality and speed of processing returns and refunds.
$1B tax-cut package clears Indiana House, heads to uncertain future in Senate
Republicans in the Indiana House passed their $1 billion individual income and business tax-cut proposal Thursday on a 68-25 party-line vote, sending it to the Senate, where its future is murky.
Will Indiana Senate Republicans cut taxes? They’re talking about it.
While the push for broad tax cuts has been coming primarily from Indiana House Republicans so far this legislative session, some Senate Republicans are offering more modest alternatives exclusively aimed at reducing the personal property tax businesses pay on equipment.
Indiana sportsbooks end 2021 with near-record month
Based on data from the Indiana Gaming Commission, sports bettors placed more than $460 million in wagers in December, up from the November handle of $463.7 million.
Republicans’ $1B tax-cut package heads to full Indiana House
Republicans on the Indiana House Ways and Means Committee passed their $1 billion tax-cut proposal Wednesday night on a 15-7 party-line vote, sending it to the full House for consideration.
Indiana ranks best for business in property tax, 9th overall for tax climate
But some Republican legislators still want to cut what they consider the last blemish on the state’s otherwise business-friendly tax structure: the business personal property tax.
House Republicans unveil $1B tax cut plan; other GOP leaders are more reluctant
The plan proposes lowering or eliminating four separate taxes on sales, business personal property, individual income and utility receipts.
Indiana’s GOP governor, lawmakers differing on top issues
Indiana Gov. Eric Holcomb proposed a tax cut for some businesses Monday that is decidedly less ambitious than what many of his fellow Republicans want to seek during the new legislative session.
House leader eyes income tax cut amid rosy fiscal forecast
Indiana House Speaker Todd Huston says the state’s burgeoning surplus, forecast to grow to $5.1 billion by the end of June, gives him even more reason to pursue tax cuts.
UPDATE: Indiana taxpayers to get $125 refunds as state gives back $545M in surplus
The size of the state surplus has triggered Indiana’s automatic tax-refund law, with an estimated $545 million being divided evenly among 4.3 million taxpayers.
Ohio lawmakers to consider bill aimed at retaining, luring students
Lawmakers in Indiana’s neighbor to the east will consider making graduates of any Ohio college who take a full-time job in the state exempt from state income tax for up to three years.