The Indiana Department of Revenue (DOR) recently took on the difficult task of explaining how Indiana is treating the tax impacts of the various pieces of federal stimulus legislation passed in 2020 and earlier this year. As you can appreciate, there are many facets to these matters. The state agency has done an admirable job in trying to break [...]
SB 383 – Various Tax Matters Authored by Sen. Travis Holdman (R-Markle) This is the Indiana Department of Revenue’s (IDOR) annual bill containing a collection of changes the agency has identified as needed to improve state tax administration. Among the many provisions are those establishing new procedures for how individual partners must amend their tax state when the Internal [...]
SB 383 – Various Tax Matters Authored by Sen. Travis Holdman (R-Markle) This is the Indiana Department of Revenue’s (IDOR) annual bill containing a collection of changes the agency has identified as needed to improve state tax administration. Among the many provisions are those establishing new procedures for how individual partners must amend their tax state when the Internal [...]
COVID, an economic shutdown and the resulting delayed due date for income taxes have combined to make the monthly revenue numbers far out of line with projections and typical monthly intakes. First, with nearly everything closed, nearly everybody staying home and people being laid off, it was inevitable that income tax withholdings and sales tax collections would plummet. Then [...]
Recently, the Indiana Department of Revenue (DOR) announced additional extensions for the filing and payment of certain individual and corporate tax returns to provide further relief during the COVID-19 health crisis. These extensions are in addition to the ones previously announced on March 19, 2020. In conjunction with the additional federal extensions provided by the Internal Revenue Service (IRS) [...]
SB 408 – Various Tax Matters Authored by Sen. Travis Holdman (R-Markle) Removes references to an out-of-state merchant’s collection of the state use tax. (Under current law, an out-of-state merchant is required to collect the state gross retail tax (not the use tax) on retail transactions made in Indiana if certain threshold conditions are met.) Requires the state geographical [...]
SB 408 – Various Tax Matters Authored by Sen. Travis Holdman (R-Markle) Removes references to an out-of-state merchant’s collection of the state use tax. (Under current law, an out-of-state merchant is required to collect the state gross retail tax [not the use tax] on retail transactions made in Indiana if certain threshold conditions are met.) Requires the state geographic [...]
SB 385 – Assessment of Business Personal Property Taxes Authored by Sen. Aaron Freeman (R-Indianapolis) Provides that the business personal property exemption from taxation is based on the current cash value instead of the acquisition cost. Chamber position: Support The latest: Passed by the Senate Tax and Fiscal Policy Committee 10-2. Much of the testimony focused on the use of cash [...]
Senate Bill 565 – Department of State Revenue Authored by Sen. Travis Holdman (R-Markle) Contains numerous changes to the administrative procedures governing the operations of the state Department of Revenue (DOR). The Latest: Heard by the House Ways and Means Committee on Wednesday, but no vote taken yet. Chamber Position: Support Chamber Action/Commentary: This is DOR’s “agency bill” – always a [...]
Senate Bill 565 (Department of State Revenue), authored by Sen. Travis Holdman (R-Markle), passed the full Senate on Tuesday. This is the Department of Revenue’s (DOR) “agency bill” that largely includes items to help it do its job, but a couple added provisions were of concern to the Chamber. Those were remedied on Monday with a second reading amendment [...]
