The president is going to call it the “Buffett Rule” for Warren Buffett, the billionaire investor who has complained that rich people like him pay a smaller share of their income in federal taxes than middle-class taxpayers.
A tool allowing the super-wealthy to pass assets from one generation to the next without paying taxes is resurging among Hoosier investors.
Shelbyville racetrack and casino could save millions if it successfully contests the way Indiana interprets state tax law.
The state said Tuesday it took in $12.3 million more in taxes than expected last month and that income and sales tax collections continued to improve through the end of August. However, gambling taxes from riverboat casinos came in $5.2 million less than expected.
Indiana property taxpayers saw their savings grow by 32 percent this year compared to a year ago thanks to statewide tax caps on their 2011 bills, according to a state report.
The state had seized and sold 240 dogs at business, citing $142,000 in unpaid taxes.
The financial picture for Indianapolis’ struggling public library system is expected to improve enough for leaders to consider restoring operating hours at 10 of its 23 locations next year.
If Indiana Live and Hoosier Park prevail, the racetrack-casinos may cut they could cut their combined tax bill by $30 million a year.
City and county officials across Indiana are starting to wrestle with how they'll deal with the state's plan to recoup roughly $610 million it overpaid local governments for income taxes it expected to collect.
Republican Mike Pence is looking at ways to cut Indiana income tax rates across the board if elected governor next year.
Sen. Richard Lugar is the only Republican in the state's Congressional delegation who hasn't signed Norquist's pledge, which requires the signer to "oppose and vote against any and all efforts to increase taxes.”
Carmel financial executive among those who plan to shield millions of dollars in a dynasty trust, so it can be passed on to multiple generations of descendants while paying as little in taxes as possible.
The U.S. government needs to open its borders to attract and retain talented scientists for drugmakers to employ, Eli Lilly & Co. CEO John Lechleiter plans to tell a technology conference Thursday.
The convention association set out to book 725,000 hotel room nights this year for future meetings but so far is trending below the goal. An aggressive drive last year exhausted many of its prospects, new ICVA CEO Leonard Hoops said.
The willingness of Indiana to challenge the federal government and risk a huge financial penalty could take the issue into uncharted legal and political territory.
Sales tax collections were $28 million above May collections last year, and individual income tax collections were $177 million above the same time in 2010. Strong employment and income growth had a lot to do with it.
Three bills with implications for owners of commercial real estate were approved by the General Assembly and have been signed by Gov. Mitch Daniels.
The Capital Improvement Board saw revenue of $22.5 million in the first three months of the year, a jump of 28 percent compared with the same three months in 2010. More taxes generated by hotel stays and restaurant visits helped drive the increase.
Victories include a reduction in corporate income taxes, an overhaul of the state’s unemployment insurance system, and the weakening of an immigration bill that initially resembled a controversial Arizona law.
Hauser’s Law, which is really an empirical observation, notes that U.S. income tax revenue has hovered within a percentage point of 19 percent of our total economy for more than 50 years.
