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.
Taxes
Articles
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.
Several education-related bills signed into state law
In addition to approving legislation to end Common Core standards in Indiana, Gov. Mike Pence on Monday signed four other education-related bills into law.
Governor signs tax-cut, economic development bills
Indiana Gov. Mike Pence on Tuesday morning signed into law a package of state business tax cuts approved by lawmakers earlier this month as well as several other business-related bills.
Big businesses fight over Indiana energy program
Two giant corporations that sell products that save electricity want Gov. Mike Pence to veto a bill that would halt the program called Energizing Indiana.
City to consider $7.7M bond issue to assist Broad Ripple project
Browning Investments Inc. says that it is seeking $5.7 million from the bond issue to help finance Canal Pointe, its controversial $30 million apartments-and-retail project.
Apparel firm requests tax break on $15M project
OSP Group is in the midst of re-evaluating its national distribution network and has identified major improvements needed at the center, which employs 625.
Financial emergency sparks cuts in Connersville
The city’s clerk-treasurer estimates the city's general fund will have less than $15,000 in the bank as of May 1, yet its monthly payroll and claims typically exceed $700,000.
Indiana lawmakers pass package of business tax cuts
The corporate income tax and state banking tax would be reduced to 4.9 percent and local governments would be left to decide whether to cut the business equipment tax.
Deal on mass-transit legislation headed for vote
The compromise language does not include a provision to establish a light-rail system or an increase in corporate taxes. However, the legislation would still allow for an increase in individual income taxes pending voter approval.
Tax collection woes raise concern among leaders
The Indiana Budget Agency reported Friday that tax collections came in $54 million less than expected in February.
Soccer team owner concedes battle for stadium funds this year
The owner of the Indy Eleven soccer franchise has conceded that his push for state financing help for a proposed 18,500-seat, $87 million stadium in Indianapolis will have to wait on the bench for another legislative session.
Same-sex marriage tax benefits nixed by Senate
Indiana lawmakers voted to change a tax bill Monday, a move allowing the state to keep its current policy, which does not recognize same-sex marriages for tax purposes.
Business tax cuts enter House, Senate negotiations
The Senate voted 33-15 Tuesday to advance the package, sending it to a conference committee of House and Senate members.
Mass transit bill headed to conference committee
The Indiana House passed legislation to authorize new taxes for an expanded bus system but the bill is headed to a conference committee where lawmakers will try to find a compromise on the issue.
Indiana lawmakers draw close on business tax deal
The House Ways and Means Committee and the Senate Tax and Fiscal Policy advanced two separate measures Tuesday that would cut the state's corporate income tax and the state's business equipment tax in certain cases.
Indiana lawmakers draw close on business tax deal
A pair of legislative panels approved changes Tuesday for competing House and Senate tax measures that would cut taxes on business equipment and corporate earnings.