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IN SB0319
Bill
Status
1/8/2015
Primary Sponsor
Randall Head
Click for details
AI Summary
SB 319 Summary
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Department of State Revenue must track county adjusted gross income tax, county option income tax, and county economic development income tax received through employer withholdings when no income tax return has been filed for that taxable year.
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Income tax withholdings not associated with an individual income tax return shall be included in county distributions by the deadline for claiming a refund under IC 6-3-4-8 (two years).
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County distributions are calculated based on tax revenue received and reported on returns, adjusted for unmatched withholdings and refunds made during the state fiscal year.
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Budget agency must certify county "certified distributions" annually before October 1, with estimates provided to county auditors by August 2, allowing 30 days for notification to taxing units.
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Effective January 1, 2016.
Legislative Description
Distribution of local option income taxes. Requires the department of state revenue to track the amount of county income tax that is received from employers for county taxpayers through withholding for which an income tax return has not been filed. Provides for distributions to counties of income tax withholdings received that are not associated with an individual income tax return by the deadline for claiming a refund (two years).
Last Action
First Reading: referred to Committee on Tax & Fiscal Policy
1/8/2015