Indiana News

Big-ticket item cut from Indiana tax simplification bill

INDIANAPOLIS (AP) – A big ticket-item has been cut from a bill backed by Indiana Gov. Mike Pence as a tax simplification plan.

The House Ways and Means Committee voted Monday to remove from the bill a proposal to extend an exemption from the state’s 7 percent sales tax to equipment purchases by manufacturers.

Legislative leaders had cast doubt on whether the change could be made after estimates found it could cost the state up to $240 million a year in tax revenue.

The committee also dropped a proposal to eliminate a tax credit for donations to Indiana colleges. It allows a credit up to $200 credit for joint tax return filers. Dropping it would have save the state nearly $9 million annually.

The bill still would eliminate several other tax credit programs.

Trending Headlines

MORE STORIES

LIKE US ON FACEBOOK