INDIANAPOLIS —
Indiana taxpayers will receive a $111 credit on their state income tax returns next year as the state distributes part of its budget surplus.
Gov. Mitch Daniels on Wednesday announced the credit that will be $222 for couples filing joint returns. The credit represents the automatic taxpayer refund plan that Daniels pushed through the state Legislature last year.
That refund kicked with the state’s reserves reaching about $2.1 billion. The governor’s office says about $360 million will go toward the tax credits, with another $360 million to the state’s pension liabilities.
Daniels says including the credit on tax returns is simpler and less expensive than mailing out additional checks.
Critics argue that Daniels created the surplus by cutting money for public schools, the child welfare agency and other important services.
Clark County
November 21, 2012
Indiana taxpayers to see $111 credit from surplus
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Continued ... -
“Caution Light’ the economic forecast for rest of year in Southern Indiana
Southern Indiana has made progress since the employment dip at the depths of the latest recession, but there’s still some catching up to do, Indiana University Southeast economic expert Uric Dufrene said Friday.
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