Below is a detailed look at the provisions in the Senate (SB 3) and House (HB 1001) legislation regarding the taxpayer rebates and more, as you will see. Of note: The Senate has included language to cap the gas tax, while the House has taken the opportunity to include provisions related to children and health. Senate Bill 3: $9.55.6 [...]
With new tax cuts just put into the books, are you wondering how inflation will affect Indiana’s financial picture? This analysis below, prepared by the Indiana Fiscal Policy Institute (IFPI), provides an excellent insight to the possible impacts: The U.S. Bureau of Economic Analysis recently announced the latest Personal Consumption Expenditures (PCE) Price Index. The Fed’s preferred barometer for inflation policy hit [...]
The Indiana Chamber is calling on Indiana Senate Majority Republicans to restore the tax reductions in House Bill 1002 that would benefit all taxpayers. In a recent committee meeting, the Senate group removed all the tax relief from the legislation, which is a top priority of House leadership and the business community. This week, no action was taken on [...]
(INDIANAPOLIS) — The Indiana Chamber of Commerce is calling on Indiana Senate Majority Republicans to restore the tax reductions in House Bill 1002 that would benefit all taxpayers. In a recent committee meeting, the Senate group removed all the tax relief from the legislation, which is a top priority of House leadership and the business community. Indiana Chamber President [...]
(INDIANAPOLIS) — Governor Eric Holcomb unveiled his 2022 legislative agenda Monday, highlighted by a goal to eliminate the 30% business personal property tax on new equipment. This would indeed enable Indiana to compete with neighboring states with lower taxes. The measure is now part of House Bill 1002 – authored by House Ways and Means Chairman Rep. Tim Brown [...]
If you’re interested in corporate taxes or you’ve been paying attention to world economic news, you’ve heard talk of developments regarding the possibility of a “global minimum tax.” It’s not really a new concept but it has been getting a lot of high-level discussion recently. President Biden and his Treasury Secretary Janet Yellen are promoting a complicated proposal developed [...]
Indiana has taken in too much in taxes, requiring the state to return money to Indiana income taxpayers. Under a law passed in 2011, if the revenue surplus at the end of the fiscal year (June 30) exceeds 12.5% of annual expenditures, half the overage is diverted to pension stabilization and the other half returned. The combined balances are [...]
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 [...]
The 2021 legislative session was an overall catalyst for business recovery and featured a variety of policy victories for you and your organizations. What do these policy changes mean for your business? Let’s take a look at how companies of all types will benefit. ALL: Civil immunity related to COVID-19 The Chamber’s top priority in 2021 retroactively protects employers [...]
https://youtu.be/XDZfGWIt_aQ Indiana Chamber President Kevin Brinegar outlined what was a very good – but could have been great – legislative session for the Indiana business community for Inside INdiana Business last weekend.
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