President Obama wants to levy a new tax on Americans. What’s a carbon tax? A carbon tax is basically, if you don’t conform to his way of thinking “green”, you will be punished and charged for it. This will not only lead to skyrocketing energy prices, but it also will force energy companies to consider [...]
Governor Pence has submitted a budget to the General Assembly that maintains Indiana’s fiscal integrity while putting more tax dollars back into the pockets of taxpayers. We feel Hoosiers have earned an income tax cut and are advocating the General Assembly to pass the Pence Budget which includes a 10% income tax cut for Hoosier [...]
Economists left, right and center all agree that you don’t raise taxes in a weak economy. Unfortunately, Congress is poised to let taxes go up on every single taxpayer, even though the economy continues to struggle. Take action today and tell Congress that you oppose raising taxes.
The Indiana General Assembly took an important step towards economic freedom by passing Senate Bill 293 on the last day of the legislative session. SB 293 immediately reduces the inheritance (death) tax by raising the amount of earnings that are exempted from $100,000 to $250,000 for immediate family members. It will also eliminate the tax by phasing it out over the next ten years starting in 2013.
News Release: February 22, 2012
Indianapolis, Ind. The Indiana House Committee on Ways and Means voted 21-3 today in favor of State Sen. Brandt Hershmans policy initiative phasing out Indianas inheritance tax.
Hoosier families and farmers are currently burdened by some of the highest inheritance taxes in the country, Hershman said. This unpopular death tax is also a deterrent to keeping retirees and entrepreneurs in Indiana because they pay taxes on their investments while living and want to avoid burdening their loved ones with paying taxes on those investments again upon their death.
Hershman (R-Buck Creek), chair of the Senate Tax Committee, said Indianas inheritance income tax is levied against heirs who receive inheritances, not including spouses and charitable organizations.