UPDATE: Indiana surplus tops $2B after spending cuts
The cash reserves for Indiana's state government grew to more than $2 billion after spending cuts by most state agencies and a reduction in state funding for higher education.
Taxes
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Government made $100B in improper payments in 2013
By its own estimate, the U.S. government made about $100 billion in payments last year to people who may not have been entitled to receive them.
Ex-Center Township trustee official charged with theft
Federal prosecutors on Tuesday charged former CFO Alan S. Mizen, 59, of Zionsville with theft and embezzlement of federal program funds. If found guilty, he faces up to 10 years in federal prison.
Pence seeks review to simplify Indiana tax code
Gov. Mike Pence said Tuesday he wants to review Indiana's tax code to simplify it and promote economic development. His comments came at the Tax Competitiveness and Simplification Conference, which culled general ideas for tax reform from a mix of national and state tax experts.
Pence hosts conservatives for Indiana tax summit
The governor is hosting a group of state and national tax experts to consider ways to overhaul the state’s tax code.
Obama says U.S. should provide paid maternity leave
The president is touting paid maternity in the midst of a midterm election campaign focused on women voters, without describing the details of how he would fund such a system.
Interactive Intelligence seeks city tax breaks for expansion
Indianapolis is considering nearly $2.6 million in tax breaks over 10 years as an incentive for Interactive Intelligence’s planned $28 million investment.
Court: School districts can’t charge for bus rides
The Indiana Court of Appeals says a Marion County school district acted unconstitutionally when it indirectly charged fees for students to ride buses to school.
Southwest Ohio gamblers spending less in Indiana
An analysis found that gamblers for the first time are spending more at the Cincinnati casino and two racinos in the region than in neighboring southeast Indiana.
States could be expanding wealth gap with tax policies
Politicians in Indiana and other states hope tax cuts for businesses will boost their economies, but those and other moves could be contributing to the income gap limiting growth in U.S. consumer spending.
State plans conference to examine tax structure
More than 200 local and national tax professionals and policy makers will participate in the Indiana Competitiveness and Simplification Conference on June 24 at the Indiana Government Center.
Online grocer plans 238 jobs in Indianapolis
Peapod Inc., an online grocery-delivery service, is seeking city tax incentives to help it with an expansion that would create 238 jobs by 2018. The jobs would pay about $15 per hour.
Council OKs smoke-detector ordinance, road repair funds
The Indianapolis City-County Council voted 24-5 Monday night to update the city code on smoke detectors. It also voted 24-5 to spend $8.3 million from the Rebuild Indy fund on emergency road repairs.
U.S. House votes to revive expired research tax credit
The 274-131 vote follows calls to restore the credit by a coalition of companies including Indianapolis-based Eli Lilly and Co. and Texas Instruments Inc.
Removing false homestead exemptions to yield bonanza
Marion County stands to receive tens of millions of dollars from property owners who’ve been claiming false homestead deductions when this spring’s tax bills are collected.
CIB OKs Pacers subsidy after promise of no additional taxes
The city’s Capital Improvement Board on Monday afternoon unanimously approved a $160 million, 10-year finance package to the Indiana Pacers for the operations of Bankers Life Fieldhouse.
Law firms fight ‘onerous’ tax shift for service businesses
The proposed switch in accounting methods could create cash-flow nightmares for medical-service providers, accounting, engineering, consulting and other professional-services companies with revenue over $10 million.
Tax revenue stabilizes in March but still behind for fiscal year
For the fiscal year – which began July 1 – total tax collections are still about $71 million behind the estimates used to write the current two-year budget.
Pence continues to seek repeal of medical device tax
A number of Indiana lawmakers – including both of the state’s U.S. senators – have advocated for the elimination of the tax, in part because the state is home to several key medical device manufacturers.
Sweetener maker plans $21M in improvements, 151 new jobs
Carmel-based Heartland Food Product Groups is seeking nearly $1 million in tax breaks on building work and new equipment for its Indianapolis production facility.