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2007 sources of Indiana's revenue. Taxes in Indiana are almost entirely authorized at the state level, although the revenue is used to fund both local and state level government. The state of Indiana's income comes from four primary tax areas. Most state level income is from a sales tax of 7% and a flat state income tax of 3.05%. The state also ...
The Indiana Code in book form. The Indiana Code is the code of laws for the U.S. state of Indiana. The contents are the codification of all the laws currently in effect within Indiana. With roots going back to the Northwest Ordinance of 1787, the laws of Indiana have been revised many times.
Indiana has a 7% state sales tax. [111] The tax rate was raised from 6% on April 1, 2008, to offset the loss of revenue from the statewide property tax reform, which is expected to significantly lower property taxes. Previous to this it was 5 percent from 1983 to 2002. It was 6 percent from 2002 to 2008. The rate currently stands at 7 percent.
[1] In some jurisdictions a person injured as a result of gross negligence may be able to recover punitive damages from the person who caused the injury or loss. [2] Negligence is the opposite of diligence, or being careful. The standard of ordinary negligence is what conduct deviates from that of a "reasonable person". By extension, if ...
Indiana (all local taxes reported on state income tax form): All counties; Iowa (all local taxes reported on state income tax form): Many school districts and Appanoose County; Kansas: Some counties and municipalities (interest and dividend income; reported on separate state form 200 filed with the county clerk) Kentucky:
The council members serve four-year terms. They are responsible for setting salaries, the annual budget, and special spending. The council also has limited authority to impose local taxes, usually in the form of an income tax that is subject to state-level approval, excise taxes, or service taxes, like those on dining or lodging. [4] [5]
A casualty loss is a type of tax loss that is a sudden, unexpected, or unusual event. [1] Damage or loss resulting from progressive deterioration of property through a steadily operating cause would not be a casualty loss. “Other casualty” are events similar to “fire, storm, or shipwreck.”
Statutory damages are a damage award in civil law, in which the amount awarded is stipulated within the statute rather than being calculated based on the degree of harm to the plaintiff. Lawmakers will provide for statutory damages for acts in which it is difficult to determine a precise value of the loss suffered by the victim.