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      July 23, 2018

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Tax Relief in Indiana

Indiana MapIndiana residents tend to fare well across various measures of personal tax responsibility in comparison with the rest of the United States. For example, Indiana’s flat rate of 3.4% for individual income tax ranks 10th lowest in the nation among states that levy an individual tax. The total tax collected per person with respect to both state and local taxes is approximately $838 in a typical year, putting the state in 22nd place. Also, with an average of $971 in property taxes levied per capita, Indiana is the 15th lowest nationwide.

At the federal level, the average income tax per resident is $8.739, making Indiana the 38th lowest among the fifty states.

However, Indiana has not been immune to the decline in the median household income level across the country, experiencing a significant 11.5% drop to an average of $50,553 per resident. This decline in income, combined with individual job loss, medical expenses, and other unexpected circumstances have led a number of Indiana residents to seek tax relief, as they face challenges in meeting their tax obligations in light of financial struggles. These struggles can include living from one paycheck to another, using every last dollar to pay the mortgage or rent, to put food on the table, to keep the heat and water on, and even to pay for the gasoline necessary to get to work; it can be difficult to set aside savings for tax bills when there's barely enough - and sometimes not enough - for immediate needs.

Tax relief companies are able to utilize strategies of negotiated penalty abatement, audit representation and reconsideration, and tax return amendment and review, among others, to help clients get out of their tax debt problems. Indiana residents who are delinquent in tax payments can use tax relief strategies to eliminate the stress of owing the IRS and state tax authorities, and to reduce the likelihood of having wages garnished or assets seized.

 

Indiana Corporate Taxes Continue To Fall As State Closes Books

Indiana closed the books on its 2018 fiscal year to mark the third consecutive year the state collected less in corporate taxes. The state collected $318 million less from corporations this year than ...

Published:  Fri, 13 Jul 2018 05:35:00 GMT



Indiana online sales tax can take effect after SCOTUS ruling

Under House Enrolled Act 1129 of 2017, Indiana can impose its 7 percent sales tax on any retailer that earns more than $100,000 in revenue or makes more than 200 separate transactions for tangible per...

Published:  Tue, 10 Jul 2018 23:28:00 GMT



Indiana collected less corporate taxes in fiscal year 2018

INDIANAPOLIS - State officials say Indiana closed out the fiscal year that ended in June with about $1.8 billion in its reserves even though the state again collected less corporate income taxes than ...

Published:  Sat, 14 Jul 2018 05:16:00 GMT



Indiana finishes fiscal year with surplus, but corporate income taxes shrink

State officials say Indiana closed out the fiscal year that ended in June with about $1.8 billion in its reserves even though the state again collected fewer corporate income taxes than the previous f...

Published:  Fri, 13 Jul 2018 10:10:00 GMT



Allen County Leaders Opposing Tax Proposal

... 1 percent cap could see a tax increase while experiencing a reduction in the services the taxes pay for, according to Henry. "Fort Wayne and northeast Indiana are moving in the right direction wit...

Published:  Thu, 19 Jul 2018 15:32:00 GMT



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