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IBA: Did You Know?

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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

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  1. I just wanted to point out that Congressman Jim Sensenbrenner, Senator Feinstein, former Senate majority leader Bill Frist, and former attorney general John Ashcroft are responsible for this rubbish. We need to keep a eye on these corrupt, arrogant, and incompetent fools.

  2. Well I guess our politicians have decided to give these idiot federal prosecutors unlimited power. Now if I guy bounces a fifty-dollar check, the U.S. attorney can intentionally wait for twenty-five years or so and have the check swabbed for DNA and file charges. These power hungry federal prosecutors now have unlimited power to mess with people. we can thank Wisconsin's Jim Sensenbrenner and Diane Feinstein, John Achcroft and Bill Frist for this one. Way to go, idiots.

  3. I wonder if the USSR had electronic voting machines that changed the ballot after it was cast? Oh well, at least we have a free media serving as vicious watchdog and exposing all of the rot in the system! (Insert rimshot)

  4. Jose, you are assuming those in power do not wish to be totalitarian. My experience has convinced me otherwise. Constitutionalists are nearly as rare as hens teeth among the powerbrokers "managing" us for The Glorious State. Oh, and your point is dead on, el correcta mundo. Keep the Founders’ (1791 & 1851) vision alive, my friend, even if most all others, and especially the ruling junta, chase only power and money (i.e. mammon)

  5. Hypocrisy in high places, absolute immunity handed out like Halloween treats (it is the stuff of which tyranny is made) and the belief that government agents are above the constitutions and cannot be held responsible for mere citizen is killing, perhaps has killed, The Republic. And yet those same power drunk statists just reel on down the hallway toward bureaucratic fascism.

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