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.
Carmel, Fishers and Noblesville are trying to head off appeals that cause tax revenue to come in lower than expected, especially for projects within tax-increment-financing districts.
Funding concerns involving the homestead credit have prompted work on an alternative plan that Democrats expect to unveil soon.
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.
The home-improvement retail giant plans to hire 1,000 workers for the center at Intech Park on the northwest side. The jobs would pay an average hourly wage of about $16.
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.
A subsidiary of Dublin, Ohio-based Cardinal Health Inc. is seeking tax breaks from the city of Indianapolis to help it open a $14.4 million local drug-production facility that would employ 85 workers by 2017.
Indiana's public universities could see their budgets cut another 2 percent if state tax collections continue trailing expectations, Gov. Mike Pence's budget director said Thursday.
The state brought in a total of $1.04 billion in July general fund revenue, a decrease of 0.5 percent from the December 2013 state revenue forecast.
The nation's largest drugstore chain said it will no longer pursue an overseas reorganization that would have trimmed the amount of U.S. taxes it pays.
President Barack Obama on Thursday demanded "economic patriotism" from U.S. corporations that use legal means to avoid U.S. taxes through overseas mergers.
The Obamacare tax credits that brought nearly $400 million to Indiana this year to help Hoosiers buy health insurance could go away after a federal appeals court ruled Tuesday they were illegal.
New financial projections suggest the Carmel Redevelopment Commission will have enough annual revenue to pay its debts for the next 15 years before dipping into reserves. But property taxes from the city’s two-dozen TIF districts could fall more than $1 million short as soon as next year.
The cash reserves for Indiana's state government grew to more than $2 billion after spending cuts by most state agencies and a reduction in state funding for higher education.
By its own estimate, the U.S. government made about $100 billion in payments last year to people who may not have been entitled to receive them.
Federal prosecutors on Tuesday charged former CFO Alan S. Mizen, 59, of Zionsville with theft and embezzlement of federal program funds. If found guilty, he faces up to 10 years in federal prison.
Gov. Mike Pence said Tuesday he wants to review Indiana's tax code to simplify it and promote economic development. His comments came at the Tax Competitiveness and Simplification Conference, which culled general ideas for tax reform from a mix of national and state tax experts.
The governor is hosting a group of state and national tax experts to consider ways to overhaul the state’s tax code.
The president is touting paid maternity in the midst of a midterm election campaign focused on women voters, without describing the details of how he would fund such a system.
Indianapolis is considering nearly $2.6 million in tax breaks over 10 years as an incentive for Interactive Intelligence’s planned $28 million investment.
