The Indianapolis City-County Council will have more than one big tax-increment finance issue to consider at a meeting Monday night. A new TIF district stretching from Fall Creek to White River along College Avenue will be introduced.
A new study of Indiana's business tax structure suggests the state's tax code discourages the small, home-grown businesses often considered the engines of job creation.
In a dark little corner of the tax code known as Section 132(f), the IRS lets employers provide tax-free benefits—typically, payroll deductions and/or subsidies—to employees for commuting costs. That includes vans, buses, bikes, trains, and even parking. And both parties can save, since they’re not getting dinged for their respective taxes on the amount of the benefit.
Despite their political differences, the three men running for Indiana governor outlined similar outlooks for running the state during a forum Tuesday, from proposing improved job training to imposing tax cuts. But which taxes should be cut and when highlighted their differences.
Hoosiers have a pick of candidates looking to succeed Gov. Mitch Daniels who are ready to slash their taxes for them.
Representatives of the accounting firm Deloitte told Indiana budget leaders their assessment of what needs to be audited could last through August. The audit itself could take months longer after that.
Indiana's state government is sitting on cash reserves of $2.15 billion following a year of continued budget cuts and improved tax collections.
Indiana Gov. Mitch Daniels is touting state cash reserves he says will send an additional $100 to each Indiana taxpayer through automatic tax credits next year.
A study commission on tax-increment financing will vote Thursday evening on a set of policy recommendations that would limit the use of TIF districts in Indianapolis.
Republicans in the U.S. House joined with 37 Democrats to pass a bill repealing a medical-device tax, chipping away at the 2010 health-care law in a victory for companies including Indiana-based Zimmer Holdings Inc. and Boston Scientific Corp.
Legislature agreed to extend to Indy Racing Experience the same sales-tax exemption enjoyed by race teams.
May's state tax revenue came in $143 million below projections. That comes after April's revenue was up about $159 million due to faster-than-usual tax returns processing.
Most local economic development organizations rely on private contributions and some government money to support their efforts. But an unstable economy has led to some belt-tightening and soul searching on alternative ways to fund the associations.
Democratic gubernatorial hopeful John Gregg's first bite of Hoosier populism is likely to run up against some hard economic realism: $540 million is a lot of money to account for.
I always want to make sure I paid my fair share. I can’t stress this point enough. I don’t want to be a slacker.
In both rounds of errors, computer programming related to the state's tax-return-processing system is being blamed.
A leading legislator said he expects the State Budget Committee to take some time reviewing a second computer programming mistake made by the Indiana Department of Revenue that short-changed local governments by about $205 million.
Gov. Mitch Daniels has built a national image as a persnickety fiscal manager with an eye for detail, but two massive accounting errors that have tilted Indiana's books by more than half-a-billion dollars threaten to tarnish that reputation as the popular Republican prepares to leave office.
The head of Indiana's Department of Revenue and two other officials are resigning after $205 million in local option income taxes were not distributed to counties. Marion County will get an extra $41 million from the oversight.
Carmel Mayor Jim Brainard might relinquish his political trump card in an effort to refinance some of the $240 million in debt that’s weighing on the city’s tax-increment finance districts.
