INSIDE THE STATEHOUSE: Bills would mean big bucks for local government
Indiana lawmakers are debating ways to give money back to local governments—money that already belongs to cities, towns and counties but the state has been holding in reserves.
Income taxes
Articles
UPDATE: Future income tax cut added to road-funding plan
A future 5 percent cut in Indiana's individual income tax rates is being added to a legislative proposal that would boost gasoline and cigarette taxes to increase road funding.
Mayoral foes: City must draw residents to bolster tax revenue
Attracting higher-wage residents is key to future growth as city revenues have stagnated and local governments have become increasingly reliant on income taxes. Republican Chuck Brewer and Democrat Joe Hogsett are proposing ways to bolster Indy neighborhoods.
Cleveland appeals ‘jock tax’ ruling to U.S. Supreme Court
The case has widespread implications for pro athletes and cities with sports franchises that tax visiting players’ incomes. It’s rooted in part in a challenge brought by former Indianapolis Colt Jeff Saturday.
The reality of Indiana’s corporate tax load
The age-old struggle over who pays taxes to support government is playing out in a legislative study committee before the 2015 General Assembly convenes, with Gov. Mike Pence saying he wants to simplify and cut taxes.
S&P report: Stagnant incomes threaten Indiana revenues
Sales tax is Indiana’s largest source of revenue. But it is tied to consumer spending, and Americans have become increasingly reluctant to spend as median incomes have remained virtually stagnant over the past 30 years.
Indianapolis council OKs public safety tax hike
In a 19-10 bipartisan vote, the Indianapolis City-County Council approved a hike in the public-safety income tax. The 43-percent increase will bring the total local income tax rate to 1.77 percent.
Indiana blocks $78 million in wrongful tax refunds
The state Department of Revenue says a special investigations unit discovered more than 39,000 returns relying on identity theft to falsely claim $39 million.
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.
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.
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.
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.
House committee mulls corporate contribution to mass transit
The Indiana House Ways and Means Committee is expected to vote Monday on a mass-transit bill and is considering an amendment that would require 10 percent of revenue to come from non-traditional sources.
Mayor wants to lure high-earners to boost income-tax base
Mayor Greg Ballard’s chief deputy has spent the past six months telling community and business leaders that the city simply cannot cut its way out of its revenue problems; it also needs to attract more people to live within city boundaries so they will pay their income tax to Indianapolis.
Indy Chamber proposes commuter tax
Indy Chamber is making the case for a commuter tax, arguing that it’s the best way to solve continual fiscal problems threatening to make Marion County, thus the whole metro area, less competitive.
State revamps its revenue forecasting after big miss
Growing ranks of dropout workers have nagged the economy throughout its recovery, and now Indiana’s budget forecasters feel they can’t ignore the trend. They recently revised their outlook on state revenue downward, partly because so many Hoosiers stopped looking for jobs.
Senate bill seeks to cut corporate income and property taxes
The proposal from Republican leaders would make small companies exempt from tax on business equipment, and cleave the state’s corporate income tax to the second-lowest in the nation.
Reagan’s supply-side guru to address accountants in Indy
Arthur Laffer is reviled by the big-government crowd for blaming high tax rates for slow economic growth. He’ll discuss his cautionary tale for states while in Indianapolis next week.
Legislators collide over regional mass-transit plan
During a committee meeting Tuesday, Sen. Brent Waltz and Rep. Ed DeLaney crossed swords on a proposal that included widening roads and reforming the IndyGo bus service.
City officials mull income tax hike to add police officers
Facing pressure to boost the police force and avoid further cuts in city services, Indianapolis leaders head into the next budget season with open minds about a tax increase.