Thanks to a variety of tax credits and a significant tax break available on pay handed out in the form of company stock, Amazon actually received a federal tax rebate of $129 million last year, giving it an effective federal tax rate of roughly -1 percent.
Hundreds of companies have received permission to import millions of tons of steel without paying tariffs. Two subsidiaries of Japanese companies, both in the suburbs of Indianapolis, had vastly different experiences with the waiver requests.
The developer that owns the land where Franciscan Health plans to build a $130 million orthopedic center in Carmel told city officials this week that taxes will be paid on the real estate in perpetuity, even if it sells the land to the health care system in the future.
The Indiana House has endorsed a bill to start taxing the liquids used in electronic cigarettes, but only after the proposed tax rate was cut in half.
A federal judge says the firm and its owner filed hundreds of fraudulent returns that cheated the government out of more than $1 million in tax revenue.
The tax would have the biggest impact in Greenwood, where it could generate $2.5 million in 2020 and $2.6 million in 2021.
In Indiana alone, there are more than 300 pending tax appeals involving big-box retailers. County leaders are seeking a statewide legislative fix.
The bill approved 48-0 by the Indiana Senate would allow counties to waive penalties and interest if overdue taxes are paid by May 2020.
House Bill 1444 would impose a tax of 8 cents per milliliter on e-liquids. The tax could generate between $4.16 million and $7.33 million in annual revenue for the state.
One of Gov. Eric Holcomb’s top priorities for the legislative session passed the Indiana House on Tuesday afternoon with nearly unanimous support.
The state’s top budget-writing senator doesn’t see a reason to schedule a hearing for a bill that would help fund a proposed soccer stadium for the Indy Eleven.
The institute, which studies how Indiana collects and spends taxpayer money, has been without a president since late 2017.
Delta Air Lines can’t get eight new aircraft in the air. Roughly a million government employees and contractors aren’t being paid. Some Americans who are trying to start small businesses face delays in obtaining information from the IRS.
A bill filed by Senate Appropriations Chairman Ryan Mishler would extend the life of multiple tourism- and entertainment-related taxes that help fund the Capital Improvement Board and expand the footprint of what’s known as the Professional Sports Development Area to capture even more tax revenue for the CIB. But there’s a catch.
Russell Vought, acting director of the White House budget office, said customary rules will be changed to make the payments possible. About three-quarters of taxpayers receive annual refunds, giving them an incentive to file their returns early.
Returns in states that have already approved of sports betting have been modest so far. And experts say revenue is likely to be diluted overall as more and more states jump into the game.
The Capital Improvement Board of Managers will ask lawmakers for more long-term funding that could be used in part for improvements at Bankers Life Fieldhouse. The governor says he’s ready to listen.
A coalition of business and health professionals launched a campaign Thursday calling for Indiana lawmakers to increase the state’s cigarette tax by $2 per pack.
Tariffs are weighing heavily on the tossup U.S. Senate contest between Democratic incumbent Joe Donnelly and Republican Mike Braun.
The president offered no details on the proposal, which would follow a landmark tax overhaul last year that Republicans had hoped would ensure they’d keep control of Congress after the midterms.
