SB 234 – Withholding Tax Remittance
Authored by Sen. Linda Rogers (R-Granger)
This bill takes a very different approach to addressing the issue of potential mishandling of withholding tax remittances than what Sen. Rogers offered last year. Rather than requiring businesses to set up direct deposit accounts with the Indiana Department of Revenue to protect against fraud, this year’s bill instead establishes registration requirements, notifications and more frequent deposits. Full description.
Chamber position: Support
The latest: The House Ways and Means Committee amended the bill and passed it out of committee 20-1.
Indiana Chamber action/commentary: Last week, the Chamber testified in support of this bill since it addressed our primary concerns with the bill proposed last year. Senator Rogers worked with us and other stakeholders to improve the withholding procedures without making compliance more cumbersome or costly, and without disrupting the relationship that many businesses enjoy with their payroll service provider (PSP). The committee made a few small changes to bolster the potential penalties on PSPs that breach the trust of their customers and to further fine tune the application of the new provisions before moving the bill on for full House consideration. We particularly appreciate the one amended provision that serves to distinguish the services that certified public accountants provide from those of other PSPs.
Resource: Bill Waltz at (317) 264-6887 or email: bwaltz@indianachamber.com
