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Ways and Means Committee Ups Business Personal Property Exemption Threshold

SB 336, which increases the acquisition cost threshold for the business personal property exemption from $40,000 to $60,000, was substantially amended recently in the House Ways and Means Committee and passed 14-8 along party lines. The amendment removed the provision, which would have based the threshold on assessed value and returns the calculation of the threshold to be based [...]

2021-03-29T12:09:50-04:00March 29th, 2021|

Details on the Latest Stimulus Law (Some Surprise Tax Increases), Plus House-Passed Bill Would Repeal Right-to-Work Laws

On March 10, the U.S. House of Representatives passed the American Rescue Plan Act of 2021 (H.R. 1319) by a vote of 220-211 (along party lines) which already passed out of the U.S. Senate by a vote of 50-49. H.R. 1319 provides additional relief to address the continued impact of COVID-19 on the economy, public health, state and local [...]

2021-03-12T14:13:41-05:00March 12th, 2021|

House Crafts Its Version of the Budget; Includes ‘Starting Point’ Cigarette Tax Increase

House Bill 1001, authored by Rep. Tim Brown (R-Crawfordsville), appropriates money for the operation of the state, K-12 and higher education, the delivery of Medicaid and other services, plus various other distributions and purposes. The House Ways and Means Committee transformed the introduced budget bill, representing the budget devised and proposed by the administration, into a bill reflecting the [...]

2021-02-25T17:24:05-05:00February 15th, 2021|

Indiana Chamber to Hold Top Industry Events Virtually in October

(INDIANAPOLIS) — Two leading industry events take place virtually this month from the Indiana Chamber of Commerce. On October 13, compliance and regulatory topics are center stage at the 2020 Indiana Environmental Conference, which is held in partnership with the Indiana Department of Environmental Management. Two weeks later, on October 28-29, the 2020 Indiana Business Tax Conference highlights new [...]

2020-10-01T09:30:58-04:00October 1st, 2020|

Indiana Department of Revenue Announces Additional Filing and Payment Extensions

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) [...]

2020-05-15T13:52:03-04:00May 15th, 2020|

Indiana Chamber Announces Public Policy Agenda to Help State’s Businesses Recover From Pandemic

(INDIANAPOLIS) — Legislative actions will be critical to how quickly Indiana can rebound from the COVID-19 pandemic and return to the economic prosperity it enjoyed as a leader in the Midwest and national competitor, says the Indiana Chamber of Commerce. The organization today released a public policy agenda to help achieve both short-term relief and long-term economic growth for [...]

2020-04-30T14:51:08-04:00April 30th, 2020|

Department of Revenue Bill Heard in Ways and Means Committee

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 [...]

2019-03-15T12:54:11-04:00March 15th, 2019|

Smoking Reforms in Spotlight in Interim; Increased Cigarette Tax Most Likely

The interim study committees are just getting started in earnest; on Thursday, the Interim Study Committee on Fiscal Policy went through a lengthy agenda. The topic of the fiscal, economic and workforce development impact of Indiana smoking rates was of special interest to the Indiana Chamber. Smoking reform has been a top legislative priority for the past few sessions. [...]

2018-08-28T15:16:38-04:00August 29th, 2018|

A Look at New Sec. 199A Deduction for Qualified Business Income

Do you qualify for the new 20% deduction for pass-through entities (S corps, LLCs, partnerships, sole proprietors)? Yes, no, partially, not sure yet – all possible answers. It turns out that this determination will depend on several things and may be anything but simple. But there are a few substantial factors: (1) how is the income derived, i.e. is [...]

2018-08-28T09:50:57-04:00August 28th, 2018|