Ind. Senate Panel Greenlights Business Tax Cut Bill

Law360, New York (January 23, 2014, 1:15 PM EST) -- An Indiana Senate committee on Tuesday approved legislation that aims to slash the state's corporate income tax from its current rate of 7.5 percent to 4.9 percent by 2019 and also eliminate personal property tax obligations for certain small businesses.

Now that Senate Bill 1 has cleared the Senate's Tax and Fiscal Policy Committee, it moves on to the full Senate. If passed, the measure will extend a current four-year corporate income tax reduction plan that began in 2012.

The bill was unveiled earlier this month...
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