Candidate Pence eyes Indiana income-tax cuts
Republican Mike Pence is looking at ways to cut Indiana income tax rates across the board if elected governor next year.
Taxes
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Lugar: Norquist tax pledge, others hamper Congress
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.”
Dynasty trusts let wealthy escape estate, gift taxes forever
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.
Lilly CEO: Immigration, tax laws slow innovation
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.
ICVA expects to fall short of 2011 room-night goal
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.
Abortion showdown looms for Indiana
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.
State takes in $150M more than expected in May
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.
New laws affect commercial property owners
Three bills with implications for owners of commercial real estate were approved by the General Assembly and have been signed by Gov. Mitch Daniels.
CIB reports quarterly revenue increase
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.
Business groups say legislative session among best
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.
Hicks: Raising taxes won’t increase federal revenue
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.
Democratic leader wants summer gas tax suspension
State Rep. Patrick Bauer of South Bend wants the state to suspend taxes on gasoline during the summer in a move he says would save consumers about 40 cents per gallon.
Indiana House passes bill to cut corporate tax rates
Indiana's corporate income tax rate would be cut by nearly 25 percent over the next four years under a plan the Indiana House has approved.
Daniels wants taxpayer refund back in budget
Indiana Gov. Mitch Daniels has written lawmakers to urge them to restore an automatic taxpayer refund that was removed from a budget proposal this week.
Statehouse fight continues over bank-insurance fund
Indiana lawmakers likely will avoid tapping an obscure bank-insurance fund to help bolster state coffers, but bankers may not survive the battle completely unscathed.
UPDATE: Extra tax dollars aimed at full-day kindergarten
A projected increase in state revenue should allow all Indiana school districts to provide full-day kindergarten, a long-time goal of the governor and many education officials.
HICKS: Economic activity stalls when taxes rise
We know from long experience that, if you raise taxes, you get less economic activity, even if higher tax rates make some people work harder.
Parties near deal for hospital tax
Officials from Indiana Medicaid and a hospital trade group are trying to craft a deal that would create a tax on hospitals that would help attract more federal funds for hospitals—thereby offsetting looming cuts in state payments.
Indiana March revenues come in more than expected
The state took in $977.2 million in March, up $69 million, or 8 percent, from the same month a year ago.
Tax caps lead to painful budget cuts in some counties
Indiana homeowners and businesses have seen their tax bills cut by more than $655 million since the General Assembly approved property tax caps in 2008. But the savings have been tough for some local governments.