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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 Marketplace Fairness Act of 2013 authorizes each member state under the Streamlined Sales and Use Tax Agreement (the multi-state agreement for the administration and collection of sales and use taxes adopted on November 12, 2002) to require all sellers not qualifying for a small-seller exception (applicable to sellers with annual gross ...
The use of sales taxes by U.S. states dates back at least to the Pennsylvania mercantile license tax that was initially introduced in 1821, though this and other early taxes were not broad-based. Buehler [ 242 ] attributes development of modern state sales taxes to the depression era.
In the final hours of the 2024 legislative session, lawmakers stripped from a bill a proposal to exempt menstrual products from taxation, known as the "tampon tax." ... Indiana has a 7% sales tax, ...
The filing deadline for most 2023 federal and state of Indiana income tax returns is April 15, 2024. ... You pay at least 90% of the tax expected to be owed by the original due date, and. The ...
Wholesale sales tax, a tax on sales of wholesale of tangible personal property when in a form packaged and labeled ready for shipment or delivery to final users and consumers; Retail sales tax, a tax on sales of retail of tangible personal property to final consumers and industrial users [3] Gross receipts taxes, levied on all sales of a ...
A state law — House Bill 1034 — is in effect and, according to a news release from the Indiana National Guard, the tax exemption applies to the traditional weekend Hoosier Guardsmen, the dual ...
The sales tax incentive states that the equipment used to produce renewable electricity are eligible for a sales tax exemption. The state of Indiana also implemented a voluntary Clean Energy Portfolio Standard (CPS) in May 2011. The CPS set a goal for the state to have 10% of its electric generation come from clean energy by 2025. [26]