Bills would let Whitestown, Greenwood, Danville impose 1 percent food-and-beverage tax
Three more suburban communities are seeking to impose a food and beverage tax to help fund infrastructure, public safety and quality-of-life improvements.
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City sports, tourism board could reap extra $15M annually under amended bill
A change made to legislation designed to boost funding for the Capital Improvement Board means the quasi-governmental agency could see an additional $15 million in tax funds annually—nearly double what was initially proposed.
Some Americans floored by tax bills, changes in law
The first tax filing season under the new federal tax law is proving to be surprising, confusing—and occasionally frightening—for some Americans, especially those accustomed to getting money back from the government.
Amazon paid no federal taxes on $11.2 billion in profits last year, according to group’s analysis
Thanks to a variety of tax credits and a significant tax break available on pay handed out in the form of company stock, Amazon actually received a federal tax rebate of $129 million last year, giving it an effective federal tax rate of roughly -1 percent.
Many steel tariffs waived even with tough trade talk
Hundreds of companies have received permission to import millions of tons of steel without paying tariffs. Two subsidiaries of Japanese companies, both in the suburbs of Indianapolis, had vastly different experiences with the waiver requests.
Developer of proposed hospital in Carmel agrees to use tax covenant
The developer that owns the land where Franciscan Health plans to build a $130 million orthopedic center in Carmel told city officials this week that taxes will be paid on the real estate in perpetuity, even if it sells the land to the health care system in the future.
Indiana House advances bill calling for tax on vaping liquids
The Indiana House has endorsed a bill to start taxing the liquids used in electronic cigarettes, but only after the proposed tax rate was cut in half.
Local tax prep firm barred from doing business for fraudulent returns
A federal judge says the firm and its owner filed hundreds of fraudulent returns that cheated the government out of more than $1 million in tax revenue.
Senate OKs bill to allow food, beverage tax in three Indy suburbs
The tax would have the biggest impact in Greenwood, where it could generate $2.5 million in 2020 and $2.6 million in 2021.
Counties seek state relief from big-box retailer tax appeals
In Indiana alone, there are more than 300 pending tax appeals involving big-box retailers. County leaders are seeking a statewide legislative fix.
Indiana lawmakers considering property tax amnesty period
The bill approved 48-0 by the Indiana Senate would allow counties to waive penalties and interest if overdue taxes are paid by May 2020.
Indiana lawmakers considering tax on e-liquids
House Bill 1444 would impose a tax of 8 cents per milliliter on e-liquids. The tax could generate between $4.16 million and $7.33 million in annual revenue for the state.
House passes bill to exempt military pensions from state income tax
One of Gov. Eric Holcomb’s top priorities for the legislative session passed the Indiana House on Tuesday afternoon with nearly unanimous support.
Indy Eleven stadium bill appears unlikely to get Statehouse hearing
The state’s top budget-writing senator doesn’t see a reason to schedule a hearing for a bill that would help fund a proposed soccer stadium for the Indy Eleven.
Indiana fiscal policy think tank finds new leader
The institute, which studies how Indiana collects and spends taxpayer money, has been without a president since late 2017.
From travel to IPOs, here’s how shutdown is upsetting U.S. economy
Delta Air Lines can’t get eight new aircraft in the air. Roughly a million government employees and contractors aren’t being paid. Some Americans who are trying to start small businesses face delays in obtaining information from the IRS.
Bill would boost CIB funding, require new 25-year deal with Pacers
A bill filed by Senate Appropriations Chairman Ryan Mishler would extend the life of multiple tourism- and entertainment-related taxes that help fund the Capital Improvement Board and expand the footprint of what’s known as the Professional Sports Development Area to capture even more tax revenue for the CIB. But there’s a catch.
Trump official says tax refunds will go out on time despite shutdown
Russell Vought, acting director of the White House budget office, said customary rules will be changed to make the payments possible. About three-quarters of taxpayers receive annual refunds, giving them an incentive to file their returns early.
Sports betting unlikely to be home run for state budgets
Returns in states that have already approved of sports betting have been modest so far. And experts say revenue is likely to be diluted overall as more and more states jump into the game.
Gov. Holcomb wants to keep Pacers in Indy, will consider plans to improve CIB facilities
The Capital Improvement Board of Managers will ask lawmakers for more long-term funding that could be used in part for improvements at Bankers Life Fieldhouse. The governor says he’s ready to listen.