- Associated Press - Monday, February 16, 2015

INDIANAPOLIS (AP) - A big ticket-item has been cut from a bill backed by Indiana Gov. Mike Pence as a tax simplification plan.

The House Ways and Means Committee voted Monday to remove from the bill a proposal to extend an exemption from the state’s 7 percent sales tax to equipment purchases by manufacturers.

Legislative leaders had cast doubt on whether the change could be made after estimates found it could cost the state up to $240 million a year in tax revenue.

The committee also dropped a proposal to eliminate a tax credit for donations to Indiana colleges. It allows a credit up to $200 credit for joint tax return filers. Dropping it would have save the state nearly $9 million annually.

The bill still would eliminate several other tax credit programs.



Sign up for Daily Newsletters

Manage Newsletters

Copyright © 2020 The Washington Times, LLC.

Please read our comment policy before commenting.

 

Click to Read More and View Comments

Click to Hide