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In 2014, the Indiana state legislature passed a law that cut the corporate income tax from 8.50% in 2014 to 6.25% in 2016, with further decreases to be phased in until the rate falls to 4.9% in 2022. [5] Indiana is the only state that imposes corporate income taxes based on fiscal year instead of calendar year.
The filing deadline for most 2023 federal and state of Indiana income tax returns is April 15, 2024.
As an example, consider a taxpayer who fails to file their 2020 taxes when due on May 17. Assume the taxpayer files his taxes on June 17 and owes the IRS $2,000: This taxpayer will be assessed a ...
Income tax rate for the state of Indiana is 3.15% — Second-lowest (behind Ohio) in the IMOK (i.e., Illinois, Michigan, Ohio, Kentucky) border states quartet. All Indiana counties have a local ...
The Constitution of Texas is the foundation of the government of Texas and vests the legislative power of the state in the Texas Legislature.The Texas Constitution is subject only to the sovereignty of the people of Texas as well as the Constitution of the United States, although this is disputed.
Timbs v. Indiana, 586 U.S. 146 (2019), was a United States Supreme Court case in which the Court considered whether the excessive fines clause of the Constitution's Eighth Amendment applies to state and local governments.
(2) to pay the amount shown on tax on any return specified in paragraph (1) on or before the date prescribed for payment of such tax (determined with regard to any extension of time for payment), unless it is shown that such failure is due to reasonable cause and not due to willful neglect, there shall be added to the amount shown as tax on ...
Monday is tax day. If you haven't already submitted your documents to the IRS and the Indiana Department of Revenue, here's what you need to know.