Indiana lawmaker: Online tax could replace estate tax
State Sen. Luke Kenley is floating the idea of using an online sales tax to help replace revenue that wouldn't be collected if a proposal to eliminate the state's inheritance tax becomes law.
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UPDATE: House passes payroll tax cut for Obama’s signature
Congress on Friday approved a two-month renewal of payroll tax cuts for 160 million workers and unemployment benefits for millions, handing President Barack Obama a convincing victory for his jobs agenda.
Taxpayer refund has to survive 2012 session
A state tax processing error resulting in $320 million more in the bank for the state and improved tax collections could put a nominal amount back in Hoosiers' purses and wallets next year. But a bi-partisan thirst to restore education funding and pay down state debts could just as easily take that refund away.
Budget official: State was warned about tax collections
Democrat Erik Gonzalez of the state's budget-forecasting committee said his panel warned the Indiana Department of Revenue something was wrong with corporate tax collections two years before the state discovered it misplaced $320 million.
Complex accounts made it easy for state to miss $320M
Indiana House and Senate Democrats say they want an investigation into how the money went missing for so long. They submitted a letter to the state's budget forecasting committee requesting an independent audit of the state's finances.
Daniels says state discovers extra $300 million
Indiana Gov. Mitch Daniels says the state budget will see a one-time cash infusion of $300 million from tax collections that weren't properly transferred into the general fund.
EDITORIAL: State can’t afford to lose online sales tax
The risk is that requiring online retailers to remit the sales tax will chase them away. We think the potential payoffs are worth taking the chance.
After hiking taxes, Illinois now considers easing them
Less than a year after raising personal and corporate income taxes, Illinois officials are pushing a $250 million package of tax breaks for several prominent businesses threatening to leave for more tax-friendly states, including Indiana.
Indiana retailers making push for online sales tax
A new coalition of Indiana retailers is planning a lobbying push aimed at convincing state lawmakers to force online businesses to collect the state's 7-percent sales taxes from customers.
Study: State loses millions annually in online sales taxes
The report from the Indiana Fiscal Policy Institute says the state loses $40 million to $114 million every year in sales tax revenue from sales to online retailers such as Amazon.
Homeless advocates pitch local sales-tax hike
CHIP, the Coalition for Homelessness Intervention and Prevention, said it wants Marion County taxpayers to create a permanent, dedicated source of funding for housing and services.
Lawmakers looking for solutions to online sales tax issue
At least one Indiana lawmaker plans to file a bill requiring the state to collect sales taxes from online retailers like Amazon.com. Other state lawmakers are working on a federal solution.
Indiana continues modest tax-collection gains
The state announced Thursday it took in nearly $41 million more than expected last month. The state overshot its estimates by a modest 3.8 percent although collections are vastly improved from a year ago.
Simon sues state over sales-tax loophole for Amazon.com
Simon Property Group Inc. has filed suit against the Indiana Department of Revenue in an attempt to force the state to collect sales taxes from Amazon.com Inc.
Charities disagree on potential impact of tax change
Not-for-profit-sector lobbyists are fighting President Obama’s proposal to limit the tax deduction for charitable donations. Yet some local fundraisers who could be affected by it aren’t concerned.
Court sides with racinos in tax dispute with state
A federal bankruptcy court has sided with two Indiana racinos in a dispute over their tax burdens, a ruling that could reduce the total amount they pay into state coffers by as much as $30 million per year.
Indiana senator pushes taxing online sales
Sen. Luke Kenley, R-Noblesville, plans to ask his Statehouse colleagues Thursday to help him lobby Congress for the right to tax online sales.
Lilly gets dinged for job cuts
Eli Lilly and Co. got called out in a recent report on companies that took advantage of the 2004 tax holiday on foreign profits and have since slashed jobs.
Indiana doles out $60 million interest payment to feds
The state owes $2 billion in federal unemployment insurance debt.
Marion County could get windfall from property tax sale
The sale of tax-delinquent properties brought in $13 million above the city’s expenses.