Cigarette tax hike would help ease state’s Medicaid shortfall, leaders say
Indiana’s current cigarette tax is 99.5 cents per pack, which is the 39th lowest tax rate among the states and hasn’t been increased since 2007.
Taxes
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IRS apology in Trump-related case reveals agency’s shoddy tax security
The IRS confirmed to The Washington Post that 80,000 people and businesses have been affected by the leak. IRS officials, pushed by a lawsuit filed by Citadel CEO Kenneth Griffin, apologized to him and the other taxpayers through a news release last week.
Council plans introduction of tweaked downtown tax district
Funds raised from the downtown economic enhancement district would pay for cleaning and beautification efforts, public safety initiatives, homeless outreach and costs associated with a planned low-barrier shelter.
Mike Pence’s foundation launches $10M election-year campaign to preserve Trump tax cuts
Advancing American Freedom released a 13-page blueprint Thursday with arguments being made to Capitol Hill and to voters in swing states, particularly in those that could decide control of the Senate.
Supreme Court upholds tax on foreign income over challenge backed by business interests
The justices, by a 7-2 vote, left in place a provision of a 2017 tax law that is expected to generate $340 billion, mainly from the foreign subsidiaries of domestic corporations that parked money abroad to shield it from U.S. taxes.
Farmers ask for property tax ‘intervention’ as communities, schools face challenges
Property taxes again took center stage during tax reform discussions Tuesday—with farmers asking for a reprieve and local units of government seeking to head off significant cuts in revenue.
IRS seeks to end another major tax loophole, raise $50B in process
The guidance and ruling being announced Monday includes plans to essentially stop “partnership basis shifting”—a process by which a business or person can move assets among a series of related parties to avoid paying taxes.
Hogsett-backed stadium tax-district plan advanced by City-County Council committee
After a three-hour meeting in a room packed with supporters of the Indy Eleven, a City-County Council committee on Tuesday narrowly advanced a proposal for a taxing district on the east side of downtown to support a potential Major League Soccer stadium.
Softer federal stance on marijuana could boost legalization efforts in Indiana
Some advocates wonder if the proposed reclassification of marijuana could be the game changer that opens the floodgates for legalization in the state’s 2025 legislative session.
Biden hiking tariffs on Chinese EVs, solar cells, steel, aluminum
Officials say the tariffs will help thwart China’s efforts to dominate the market for emerging technologies in ways that pose risks to U.S. national security and economic stability.
Pike Township passes $14.5M schools referendum
With the measure passing Tuesday night, the district will become the first to share some of its property tax revenue with eligible charter schools as mandated by a 2023 state law.
Doden gubernatorial proposal aims to freeze property taxes for seniors
The gubernatorial proposal from Doden zeroes in on seniors, who often live on fixed incomes and struggle to keep up with rising costs.
IRS claws back money given to businesses under fraud-ridden COVID-era tax credit program
The IRS stopped processing new claims in September, but said it will likely resume processing sometime this spring.
GOP candidates for governor share their stances on taxes
U.S. Sen. Mike Braun, former Indiana Secretary of Commerce Brad Chambers, Lt. Gov. Suzanne Crouch, Fort Wayne businessman Eric Doden, former Attorney General Curtis Hill and political newcomer Jamie Reitenour weigh in on where they fall on the state’s biggest tax issues.
Carmel wins lawsuit over state law that diverted local income tax funds to Fishers
Carmel argued the law harmed the city by depriving it of tens of millions of dollars in local income tax revenue it would have otherwise received.
Altered downtown Indy tax district legislation hits governor’s desk
Indianapolis’ planned Mile Square economic enhancement district will likely operate from a smaller tax pool and with a majority state-appointed board under state legislation.
IRS to go after executives who use business jets for personal travel in new round of audits
The audits will focus on aircraft used by large corporations and high-income taxpayers and whether the tax purpose of the jet use is being properly allocated, the IRS says.
Amended bill would retain taxing district but some could opt out
An Indiana Senate committee on Tuesday adopted an amendment to a bill originally aimed at disbanding the recently-created Mile Square economic enhancement district, essentially keeping the designation in place, but with several changes.
City, Indy Chamber continue push against repeal of downtown tax district
The city was joined by Indy Chamber and City-County Council President Vop Osili in opposing a proposed county-wide tax provision that would replace the downtown tax district.
TurboTax maker Intuit barred from advertising ‘free’ tax services without disclosing who’s eligible
The Federal Trade Commission ruled that Intuit engaged in deceptive practices by running ads claiming consumers could file their taxes for free using TurboTax even though many people did not qualify for such free offerings.