Before moving on to what will happen in the remainder of the legislative session, we paused over the last week to ask your viewpoint on one question. That was:
Who was the biggest "loser" as the result of little legislative activity over five weeks? You voted this way:
- 63%, taxpayers/Indiana citizens
- 26%, House Democrats
- 5%, House Republicans
- 5%, Gov. Daniels
The results, of course, are unscientific — but interesting nevertheless.
We now have a new question: A Senate bill would lower Indiana’s corporate income tax rate from 8.5% to 6.5%. How important (1 being the least; 5 the most) would this reduction be to your organization?
As background, about 23,000 Indiana companies have chosen to organize as C-corporations under federal law. Who these companies are is a private matter, but the best estimates are that more than 20,000 of these businesses have fewer than 100 employees. That’s who would benefit from this change.
The bill would not reduce state revenues because it is coupled with other provisions to tighten up various quirks in Indiana’s tax laws. The net result will be a neutral fiscal impact. The opportunity to boost Indiana’s economy, however, is significant.
Register your vote in the poll found on the top right of this page.