Governor announces special legislative session to begin May 14
Indiana Gov. Eric Holcomb said he wants lawmakers to focus on passing tax measures, a school safety funding bill and legislation that would help the struggling Muncie schools district.
Taxes
Articles
IRS gives taxpayers extra day to file after website issues
The IRS said that individuals or businesses with a filing or payment due Tuesday now have until midnight Wednesday to complete the task. The Indiana Department of Revenue also extended its deadline.
Internet sales tax issue divides Supreme Court justices
Hearing arguments Tuesday, the justices considered overturning the court’s 1992 ruling that made much of the internet a tax-free zone by exempting retailers that don’t have a physical presence in a state.
Proposed $15M rehab promises offices, vast rec center on Mass Ave industrial corridor
Stenz Construction Corp. is seeking a city tax break to help offset costs for reclaiming a ramshackle set of buildings and creating fitness facilities, climbing walls, and office and restaurant space, among other features.
IRS head sees huge task ahead to administer new tax law
The agency, pummeled for years by criticism from congressional Republicans and funding cuts, now must administer and enforce the most sweeping overhaul of the U.S. tax code in three decades.
Anthem among health care’s biggest gainers from federal tax cuts
Four of the 20 biggest health-care companies in the Standard & Poor’s 500 Index saw a benefit from the tax overhaul in the fourth quarter. Among them was Indianapolis-based Anthem Inc.
China vows to ‘counterattack’ U.S. as trade spat worsens
Now in a tit-for-tat fight with the United States, the global superpower vowed Friday to retaliate if President Donald Trump makes good on his threat to apply tariffs to an additional $100 billion worth of Chinese goods.
China lists $50 billion in U.S. goods it might hit with 25 percent tariff
Beijing’s list of 106 products included the biggest U.S. exports to China, reflecting its intense sensitivity to the dispute over American complaints that it pressures foreign companies to hand over technology.
Indiana soybean farmers worry about possible China tariffs
Some Indiana farmers are concerned that the struggling soybean industry could face another blow if China imposes tariffs on U.S. soybeans.
Without state fix, federal tax change could cost Indiana firms $100M
Indiana businesses and individual taxpayers might have double the work (and double the cost) to calculate their taxes next year if May’s special session fails to address the problem.
Hogsett retools tactics on commuter tax
Mayor Joe Hogsett hopes to convince legislators that other Indiana cities, not just Indianapolis, could benefit from a non-resident income tax or the redistribution of income tax revenue.
Indianapolis ponders commuter tax to fund road repairs
Indianapolis officials desperate for money to repair roads are considering whether they should try to collect income taxes from suburbanites who don't live in the city but who travel there for work.
Software tax-exemption bill awaits governor’s signature
A bill that exempts “software as a service” from Indiana’s 7 percent sales tax is headed to the governor, who said he’ll gladly sign it.
White House: No exemptions from steel, aluminum tariffs
President Donald Trump's administration appears unbowed by broad domestic and international criticism of his planned import tariffs on steel and aluminum, saying the president is not planning on exempting any countries from the stiff duties.
Political Action Committee formed to back IPS tax-hike referendums
Local business and community leaders have formed a political action committee, named “Vote Yes for IPS,” to support the upcoming May 8 primary referendums.
Hogsett proposes draining rainy day fund to infuse $14M into road repair
Hogsett called the condition of local roads “deplorable” and vowed to “return our streets to safe, passable condition.” Since Jan. 1., the city has received more than 12,000 repair requests for potholes.
Kochs launch $4M campaign against Donnelly, McCaskill
The television and online ads are critical of Sen. Joe Donnelly of Indiana and Sen. Claire McCaskill of Missouri for voting against the federal tax overhaul.
Banks poised to reap big gains from tax reform
Bankers and industry experts say the federal tax reforms passed late last year will give an especially big boost to banks.
Indiana House Republicans kill bill to raise smoking age to 21
House Republicans justified the decision, stating that their calculations indicate the change would cost state government $14 million a year in lost cigarette tax revenue.
Not-for-profits brace for impact of tax bill
Charities are waiting to see whether new tax changes, which will reduce the number of Americans who qualify to lower their federal tax bills by using a deduction for giving, will also reduce donations.