SEA 2 / Chamber Supports

The Indiana Department of Revenue (IDOR) has unveiled a new web page with a new pass-through entity tax (PTET) form, instructions and an FAQ. As Indiana businesses prepare to file their 2022 return, they can consult the web page to ensure that tax savings aren’t left on the table.

Senate Enrolled Act 2 was a top priority of the Chamber during the legislative session and the first bill to be signed into law in 2023 by Gov. Eric Holcomb. Legislators fast-tracked the bill so that business owners could take advantage of the tax relief for the 2022 tax year. More than 500,000 Hoosier businesses are now eligible for the relief, which is estimated to be more than $100 million statewide.

In addition to the information released by the IDOR, the Indiana CPA Society has a PTET resource hub with detailed information about the law as well as a recorded informational session.

David Ober is the Indiana Chamber’s vice president of taxation and public finance. Ober, a native of Noble County, started with the Chamber in summer 2022 and is a former state legislator and commissioner for the Indiana Utility Regulatory Commission.