Ind. Senate approves business tax cut

WLFI File Photo
WLFI File Photo

INDIANAPOLIS (WLFI) – On the final day of the 2014 legislative session, relief for Indiana businesses is approved.

The state Senate approved a reduction of the corporate income tax and state banking tax rates to 4.9 percent. State Sen. Brandt Hershman, who authored the bill, says the cuts are crucial to compete with other states seeking new businesses.

But Democrats who oppose the cuts say, it means that lawmakers will have to come back next year and cut critical services, such as education and roads.

As News 18 has already reported, Gov. Mike Pence originally wanted to eliminate the state’s tax on business equipment, but local leaders opposed the idea because it provides them critical revenues.

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    […] Indiana lawmakers pass package of business tax cutsIndianapolis Business JournalThe General Assembly has sent the governor a package of business tax cuts that supporters say will create jobs by luring more companies to the state. Senate Bill 1 cuts the corporate income tax rate and lets local officials reduce or eliminate property …Elkhart County officials dubious of business tax cut package without …The Elkhart TruthInd. Senate approves business tax cutWLFI.com […]

  • http://www.bizecentre.com/indiana-lawmakers-pass-package-of-business-tax-cuts-indianapolis-business-journal-4/1118802 Indiana lawmakers pass package of business tax cuts – Indianapolis Business JournalbizEcentre Business UK | bizEcentre Business UK

    […] Indiana lawmakers pass package of business tax cutsIndianapolis Business JournalThe General Assembly has sent the governor a package of business tax cuts that supporters say will create jobs by luring more companies to the state. Senate Bill 1 cuts the corporate income tax rate and lets local officials reduce or eliminate property …Ind. Senate approves business tax cutWLFI.com […]

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