ILNews

IBA: Did You Know?

Back to TopE-mailPrintBookmark and Share

The General Assembly passed several bills that affect Indiana taxes:

Effective Jan. 1, 2010, existing businesses no longer are required to have at least 35 employees to qualify for an EDGE credit for job retention.

Effective Jan. 1, 2010 (retroactive), there is a new tax credit for corporations and pass-through entities. If, after Dec. 31, 2009, the business relocates or locates its operations in Indiana, incorporates in Indiana, or expands it operations in Indiana and it employs at least 10 new qualified employees, it is eligible for a credit equal to 10% of the wages paid to qualified employees.

Effective Nov. 6, 2009 (retroactive), the net operating loss deduction may be carried back only two years for losses incurred in 2008 and 2009. (This is different from the IRS NOL, which can be carried back five years.)

Effective July 1, 2010, employers must file their WH-3 and W-2 statements electronically if they file more than 25 withholding statements. (This provision applies to statements filed after Dec. 31, 2010.)

Effective July 1, 2010, sellers of prepaid wireless telecommunications services must collect an Enhanced Prepaid Wireless Telecommunications Service Charge, which is $0.25.

For a full list of the state’s current and upcoming tax changes, visit http://www.in.gov/dor/3656.htm

ADVERTISEMENT

Sponsored by

facebook - twitter on Facebook & Twitter

Indiana State Bar Association

Indianapolis Bar Association

Evansville Bar Association

Allen County Bar Association

Indiana Lawyer on Facebook

facebook
ADVERTISEMENT
Subscribe to Indiana Lawyer
  1. KUDOS to the Indiana Supreme Court for realizing that some bureacracies need to go to the stake. Recall what RWR said: "No government ever voluntarily reduces itself in size. Government programs, once launched, never disappear. Actually, a government bureau is the nearest thing to eternal life we'll ever see on this earth!" NOW ... what next to this rare and inspiring chopping block? Well, the Commission on Gender and Race (but not religion!?!) is way overdue. And some other Board's could be cut with a positive for State and the reputation of the Indiana judiciary.

  2. During a visit where an informant with police wears audio and video, does the video necessary have to show hand to hand transaction of money and narcotics?

  3. I will agree with that as soon as law schools stop lying to prospective students about salaries and employment opportunities in the legal profession. There is no defense to the fraudulent numbers first year salaries they post to mislead people into going to law school.

  4. The sad thing is that no fish were thrown overboard The "greenhorn" who had never fished before those 5 days was interrogated for over 4 hours by 5 officers until his statement was illicited, "I don't want to go to prison....." The truth is that these fish were measured frozen off shore and thawed on shore. The FWC (state) officer did not know fish shrink, so the only reason that these fish could be bigger was a swap. There is no difference between a 19 1/2 fish or 19 3/4 fish, short fish is short fish, the ticket was written. In addition the FWC officer testified at trial, he does not measure fish in accordance with federal law. There was a document prepared by the FWC expert that said yes, fish shrink and if these had been measured correctly they averaged over 20 inches (offshore frozen). This was a smoke and mirror prosecution.

  5. I love this, Dave! Many congrats to you! We've come a long way from studying for the bar together! :)

ADVERTISEMENT