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 assessed value instead of the acquisition cost. Chamber position: Support The latest: Amended on second reading and passed by the full Senate. The amendment deleted cash value as the basis for applying the [...]
House Bill 1352 – Marketplace Facilitator Authored by Rep. Greg Porter (D-Indianapolis) This bill provides that a marketplace facilitator is required to collect and remit state sales and use taxes as a retail merchant when it facilitates a retail sale for a marketplace seller on the marketplace facilitator's marketplace. Provides that a marketplace seller is not required to collect [...]
For a little over a month now, Indiana has officially required out-of-state, online sellers to collect Indiana sales tax. Many states, including Indiana, anticipated the U.S. Supreme Court decision in Wayfair v. South Dakota, handed down this summer, and began planning for it long ago. Indiana passed legislation modeled after the South Dakota law that was sanctioned by the [...]
Indiana Poised to See Millions in New Revenue From Online Sales Tax Collection The recent U.S. Supreme Court decision in South Dakota v. Wayfair had been awaited by many brick-and-mortar retailers and state budget-makers for over 25 years. In a nutshell, the Supreme Court’s decision (5-4) will permit states to move forward with sales tax collection from online retailers. The Court overturned the Quill [...]
