Business and Economics

Governor Talks With Mayors About Business Tax

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February 12, 2014 — Indiana Public Broadcasting —

Governor Mike Pence says he’s open to finding ways to replace some of the money counties would lose if the legislature eliminates or reduces a tax on business equipment.   Indiana Public Broadcasting’s Gretchen Frazee reports that mayors from around the state met with the governor to voice their concerns.

 

Eliminating the business personal property tax has been on the top of the governor’s legislative agenda.

A bill the Senate is considering would erase the tax on small businesses with less than 25 thousand dollars worth of equipment. That’s covers about 70 percent of companies that pay the tax.

After meeting with more than a dozen mayors Tuesday, Pence issued a statement saying he’s open to fully replacing that revenue. But he stopped short of saying how the state should do so.

Kokomo Mayor Greg Goodnight says it’s a step in the right direction but that doesn’t alleviate all his fears.

“Just the fact that he supports it, it comes down to how much is he going to push and require that that be in the final version of the legislation.”

A separate House bill would give counties the option of ending the tax in hopes of attracting new businesses to the area. Pence says he also supports that plan but has not offered a way to pay for it.

 

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