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State Director Barbara Quandt invited to join Governor Pence for bill signing

Date: March 28, 2014

Last Tuesday, Governor Mike Pence signed into law a package of tax cuts for business that would give Indiana one of the nation’s lowest corporate tax rates, and State Director Barbara Quandt was front and center.  Invited to attend the bill signing as Governor Pence’s personal guest, Barbara was standing directly behind the Governor as he signed this important bill on behalf of small business.

In the session that ended mid-March, NFIB Indiana was successful in securing a local option for exempting new personal property and a local option to exempt the first $20,000 of existing personal property.  If adopted by a county, the $20,000 exemption would eliminate the tax for 50% of all Business Personal Property Tax filers with almost no impact to local governments.  Many of these small business returns are “nuisance” filings which cost more to comply with and process than they generate in tax revenue.  This bill also provides for a Blue Ribbon Commission to study the eventual elimination of the tax.  And finally, this was all wrapped in a bow with a significant reduction in the Corporate Income Tax.

The issue of Business Personal Property Tax reform drew a lot of opposition from local government officials who were concerned that the tax would be eliminated.  None of the proposals, however, would have eliminated the tax.  The final bill combined the House Bill 1001 (local option for exempting new personal property) and the Senate Bill 1 (small business exemption, corporate tax reduction and study commission).  Governor Pence, the Speaker and the President Pro-Tem can all claim victory.  Locals are still crying foul, but the study commission will provide for a full airing of the issue and a thorough review of tax reform options.

Reforming Indiana’s Business Personal Property Tax is the number one state issue for NFIB members.  NFIB Indiana State Director and members testified several times in support of reform.

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