(INDIANAPOLIS) – The IRS is warning taxpayers playing “beat the clock” with your property taxes may not work. But Hoosiers should be in the clear.
Next year, there’ll be a new $10,000 limit on the deduction for state and local taxes. Some people have been prepaying next year’s property taxes to take the full deduction while they can. The IRS now says you can’t do that unless the assessment for your 2018 bill was made in 2017.
INDIANAPOLIS | Indiana maintained its eighth-place ranking for best business tax climate, while the expiration of a temporary tax hike helped Illinois climb to 23rd, according to the nonpartisan Tax Foundation’s 2016 state ratings.
HARTFORD — The Hoosier State took a swing at the Connecticut legislature and Gov. Dannel P. Malloy on Wednesday, telling the 2.2 million readers of the Wall Street Journal that “friends don’t let friends pay higher taxes.”
Source: Honest-to-goodness, Indiana wants GE – Journal Inquirer: Page One
Check out this article from Mondaq outlining the proposed changes to Indiana’s personal property taxes. This listed all the taxable period rates for each category and their prospective rates.
Indiana Enacts Legislation Reducing Business Taxes – Tax – United States.