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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.
Here's our usual disclaimer. The information above is an abridged version of the Indiana income tax provisions. Please check the Indiana instructions available at in.gov/dor. Both Federal and ...
The filing deadline for most 2023 federal and state of Indiana income tax returns is April 15, 2024.
The rest of the century balanced new taxes with abolitions: Delaware levied a tax on several classes of income in 1869, then abolished it in 1871; Tennessee instituted a tax on dividends and bond interest in 1883, but Kinsman reports [59] that by 1903 it had produced zero actual revenue; Alabama abolished its income tax in 1884; South Carolina ...
Sales taxes provide 39% of Pennsylvania's state revenue; personal income taxes 34%; motor vehicle taxes about 12%, and taxes on cigarettes and alcoholic beverages 5%. [177] The personal income tax is a flat 3.07%.
If the same goods are purchased in a US state that does collect sales tax for such goods at time of purchase, whatever taxes were paid by the purchaser to that state can be deducted (as a tax credit) from the 6.25% owed for subsequent use, storage or consumption in Massachusetts. With few exceptions, no state's vendors will charge the native ...
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. Taxes are due Monday.
Since state and local governments fear asking citizens to pay for a project, federal funding is gleefully sought.
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