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House Bill 1483


House Bill 1483

ARCHIVE (2011)

Latest Information

 

DIGEST OF HB1483 (Updated March 28, 2011 7:54 pm - DI 84)


Taxation. Provides that in order to renew or obtain a license to: (1) operate certain medical facilities; (2) operate a home health agency; (3) operate a health facility; (4) work with radiation or radioactive materials; (5) operate a debt management company; (6) act as a pawnbroker; (7) engage in the business of money transmission; or (8) engage in the business of cashing checks for consideration; the licensee will be required to receive a clearance from the department of state revenue (DOR) if the licensee is on DOR's most recent tax warrant list. Provides that certain licensees will be required to receive a clearance from the DOR if the licensee is on DOR's most recent tax warrant list. (Current law provides that these licensees are required to receive a clearance from the DOR if the licensee has a delinquent tax liability.) Provides that the DOR may not renew a registered retail merchant certificate if the retail merchant is delinquent in remitting withholding taxes. Provides that the DOR may revoke a retail merchant certificate of a taxpayer if: (1) the fee paid by the taxpayer to renew or acquire the retail merchant certificate is not honored by a financial institution; and (2) the taxpayer does not pay the fee in guaranteed funds within five days after receiving notice from the DOR that the fee was not honored by a financial institution. Updates references to the Internal Revenue Code. Provides that amendments made to the federal earned income tax credit under the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 (Tax Relief Act), are not included in the calculation of the Indiana earned income tax credit. Excludes changes made to the Internal Revenue Code under the Tax Relief Act and the Small Business Jobs Act of 2010 which affect the calculation of adjusted gross income. Provides that certain amendments made to the Internal Revenue Code in 2010, are excluded from Indiana's definition of the Internal Revenue Code. Makes changes to the net operation loss deduction provisions for individuals and corporations. Provides that a corporation that merges with another corporation has the same due date for filing its final annual income tax return as the corporation with which it merged. Eliminates the income tax withholding provision that allows a taxpayer to receive an advanced earned income tax credit. Establishes requirements for the valuation of property subject to the inheritance tax.
Current Status:
 In Committee - 2nd House
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