The taxing district, known as a professional sports development area, or PSDA, would allow for the collection of various taxes to cover a portion of the cost for the 20,000-seat stadium.
That figure, which Microsoft disputes, stems from a long-running IRS probe into how Microsoft allocated its profits among countries and jurisdictions in the years 2004 to 2013.
A new state law allows the council to create an economic enhancement district board that could impose a fee on property owners in the Mile Square.
The comments from Indiana State Budget Director Zac Jackson came during a virtual panel discussion on the impacts an economic recession would have on state budgets.
IRS Commissioner Daniel Werfel said that with a boost in federal funding and the help of artificial intelligence tools, the agency has new means of targeting wealthy people who have “cut corners” on their taxes.
Indiana collected almost $8.2 billion in individual income taxes in fiscal 2022, accounting for roughly one-third of the state’s overall tax revenue.
The Interim State and Local Tax Review Task Force, which began meeting Wednesday, will examine Indiana’s corporate tax, individual income tax, property tax, sales tax, and others.
The complaint says Carmel has lost $16.7 million to Fishers, rather than the estimated $10.2 million, since the original law was enacted. It also estimates Carmel stands to lose more than $39 million through 2026 because of the extension.
Consumer spending that boosted state revenues has cooled after two years of above-average financial performance, bringing the state’s reserves back within a typical range.
Their report urges federal agencies to investigate and potentially go to court over the wealth of information that H&R Block, TaxAct and Tax Slayer shared with the social media giant.
Indiana Office of Management and Budget senior official Justin McAdam will be the state’s next tax court judge, Gov. Eric Holcomb announced Tuesday.
GOP lawmakers have been holding tight to demands for sharper spending cuts with caps on future spending, rejecting the alternatives proposed by the White House that call for reducing deficits in part with new revenue from taxes.
The court seems likely to give a 94-year-old woman another day in court to try to recoup some money after the county sold her condominium over a small unpaid tax bill and then kept all of the $40,000 proceeds.
Indiana’s lawmakers are nearing the end of a grueling nearly four-month legislative session, but three of their biggest priorities—aside from the budget—remain unresolved.
Discussion about a higher cigarette tax came as the House Ways and Means Committee, the powerful budget-drafters of the chamber, considered bills that address mental health and public health.
Indianapolis Public Schools’ proposed tax increase would pay for building improvements at 23 schools as the district rolls out its Rebuilding Stronger reorganization.
The Indiana State Budget Agency better-than-expected collections from sales tax, individual income tax, corporate tax, and interest revenues were the primary drivers of March’s performance.
The referendum for capital expenses is part of the district’s Rebuilding Stronger reorganization. Here’s what you need to know.
At Tuesday evening’s Democratic mayoral candidate town hall, State Rep. Robin Shackleford indicated she might consider raising taxes to fix roads in Indianapolis, while incumbent Joe Hogsett remained adamant that he would not raise taxes.
The overhaul approved in November reconfigures grades, closes six schools and expands specialized academic programs in an effort that officials say will create more great schools and prioritize equity.
