Budget leaders in the Indiana Legislature are nearing agreement on plans for phasing out the state's inheritance tax and changing the automatic taxpayer refund so that it could only be triggered every other year.
Real estate investor Chris Marten and his wife, Janice—a longtime Carmel jeweler—charge in a new federal lawsuit that investigators trampled on their constitutional rights during the inquiry, which resulted in 28 criminal charges.
President Barack Obama’s plan would trim the corporate tax rate from 35 percent to 28 percent. In turn, corporations would have to give up dozens of loopholes and subsidies that they now enjoy.
Brian Mahern, a Democrat on the City-County Council, plans to propose a study commission to examine the effectiveness of TIF districts, how property tax caps will affect them, and ways to increase transparency for the complicated financing vehicles.
Indiana's state tax collections came in slightly below projections for January, the first monthly shortfall since the new state budget year began last July.
Indiana casinos saw their take from gambling fall in 2011, and new competition in Ohio and perhaps other neighboring states virtually guarantees things will get worse from here.
Supporters of new legislation say the wealthy shouldn’t have to leave the state to avoid the tax.
An Indiana Senate committee is advancing a plan to put more money into state savings accounts before automatic tax refunds go out to taxpayers.
The Indiana Retail Council is opposing a deal struck between Gov. Mitch Daniels and Amazon to begin collecting sales tax in 2014.
Amazon.com will begin collecting Indiana's 7-percent sales tax from customers in 2014 under an agreement with the state announced Monday.
State Sen. Luke Kenley is floating the idea of using an online sales tax to help replace revenue that wouldn't be collected if a proposal to eliminate the state's inheritance tax becomes law.
Congress on Friday approved a two-month renewal of payroll tax cuts for 160 million workers and unemployment benefits for millions, handing President Barack Obama a convincing victory for his jobs agenda.
A state tax processing error resulting in $320 million more in the bank for the state and improved tax collections could put a nominal amount back in Hoosiers' purses and wallets next year. But a bi-partisan thirst to restore education funding and pay down state debts could just as easily take that refund away.
Democrat Erik Gonzalez of the state's budget-forecasting committee said his panel warned the Indiana Department of Revenue something was wrong with corporate tax collections two years before the state discovered it misplaced $320 million.
Indiana House and Senate Democrats say they want an investigation into how the money went missing for so long. They submitted a letter to the state's budget forecasting committee requesting an independent audit of the state's finances.
Indiana Gov. Mitch Daniels says the state budget will see a one-time cash infusion of $300 million from tax collections that weren't properly transferred into the general fund.
The risk is that requiring online retailers to remit the sales tax will chase them away. We think the potential payoffs are worth taking the chance.
Less than a year after raising personal and corporate income taxes, Illinois officials are pushing a $250 million package of tax breaks for several prominent businesses threatening to leave for more tax-friendly states, including Indiana.
A new coalition of Indiana retailers is planning a lobbying push aimed at convincing state lawmakers to force online businesses to collect the state's 7-percent sales taxes from customers.
The report from the Indiana Fiscal Policy Institute says the state loses $40 million to $114 million every year in sales tax revenue from sales to online retailers such as Amazon.
