Mayors: End of business equipment tax means lost revenue




The county, cities and towns could lose 5 percent or more of their annual tax income if the state decides to get rid of a tax that businesses pay on equipment.

Gov. Mike Pence wants Indiana to eliminate its personal property tax, which is charged on any equipment used by a business to generate a profit, such as manufacturing machinery, combines and tractors used by farmers, or vehicles and equipment used by small businesses.

The governor said eliminating the tax would make Indiana more attractive to new businesses and allow existing companies to grow, creating new jobs.

This story appears in the print edition of Daily Journal. Subscribers can read the entire story online by signing in here or in our e-Edition by clicking here.

comments powered by Disqus

All content copyright ©2014 Daily Journal, a division of Home News Enterprises unless otherwise noted.
All rights reserved. Click here to read our privacy policy.