Pence Implements Business Tax Reforms
by Sammy Edmonds
posted Mar 28 2014 3:17PM
Governor Pence has signed the bill to cut corporate income taxes while offering counties options for additional tax relief.
Pence traveled to Greenwood to sign the bill allowing counties to eliminate the personal property tax on new business equipment, or get rid of it entirely for businesses who don‘t owe much anyway.
The bill slashes the state‘s corporate income tax by 1.6 points over eight years. The final rate would be the second lowest in the nation.
Other related bills signed into law would ease new business requirements, create new fundraising tools for entrepreneurs and cut out certain licensing requirements.