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Taxation In Indiana
Taxes in Indiana are almost entirely authorized at the state level, although the revenue is used to fund both local and state level government. The state of Indiana's income comes from four primary tax areas. Most state level income is from a sales tax of 7% and a flat state income tax of 3.23%. The state also collects an additional income tax for some counties. Local governments are funded by a property tax that is the sum of rates set by local boards, but the total rate must be approved by the Indiana General Assembly before it can be imposed. Residential property tax rates are capped at maximum of 1% of property value. Excise tax is the fourth form of taxation and is charged on motor vehicles, alcohol, tobacco, gasoline, and certain other forms of movable property; most of the proceeds are used to fund state and local roads and health programs. The Indiana Department of Revenue collects all taxes and pays them out to the appropriate agencies and municipalities. The Indiana Tax C ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Indiana 2007 Revenue Sources
Indiana () is a U.S. state in the Midwestern United States. It is the 38th-largest by area and the 17th-most populous of the 50 States. Its capital and largest city is Indianapolis. Indiana was admitted to the United States as the 19th state on December 11, 1816. It is bordered by Lake Michigan to the northwest, Michigan to the north, Ohio to the east, the Ohio River and Kentucky to the south and southeast, and the Wabash River and Illinois to the west. Various indigenous peoples inhabited what would become Indiana for thousands of years, some of whom the U.S. government expelled between 1800 and 1836. Indiana received its name because the state was largely possessed by native tribes even after it was granted statehood. Since then, settlement patterns in Indiana have reflected regional cultural segmentation present in the Eastern United States; the state's northernmost tier was settled primarily by people from New England and New York, Central Indiana by migrants from the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Purdue University
Purdue University is a public land-grant research university in West Lafayette, Indiana, and the flagship campus of the Purdue University system. The university was founded in 1869 after Lafayette businessman John Purdue donated land and money to establish a college of science, technology, and agriculture in his name. The first classes were held on September 16, 1874, with six instructors and 39 students. It has been ranked as among the best public universities in the United States by major institutional rankings, and is renowned for its engineering program. The main campus in West Lafayette offers more than 200 majors for undergraduates, over 70 masters and doctoral programs, and professional degrees in pharmacy, veterinary medicine, and doctor of nursing practice. In addition, Purdue has 18 intercollegiate sports teams and more than 900 student organizations. Purdue is the founding member of the Big Ten Conference and enrolls the largest student body of any individua ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mitch Daniels
Mitchell Elias Daniels Jr. (born April 7, 1949) is an American academic administrator, businessman, author, and retired politician. A Republican, Daniels served as the 49th governor of Indiana from 2005 to 2013. Since 2013, Daniels has been president of Purdue University and plans to retire as of January 1, 2023. Daniels began his career as an assistant to senator Richard Lugar, working as his chief of staff in the Senate from 1977 to 1982. He was appointed executive director of the National Republican Senatorial Committee when Lugar was chairman from 1983 to 1984. He worked as a chief political advisor and as a liaison to President Ronald Reagan in 1985. He then moved back to Indiana to become president of the Hudson Institute, a conservative think tank. He later joined Eli Lilly and Company where he served as president of North American Pharmaceutical Operations from 1993 to 1997 and as senior vice president of corporate strategy and policy from 1997 to 2001. In January 2 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Paul V
Pope Paul V ( la, Paulus V; it, Paolo V) (17 September 1550 – 28 January 1621), born Camillo Borghese, was head of the Catholic Church and ruler of the Papal States from 16 May 1605 to his death in January 1621. In 1611, he honored Galileo Galilei as a member of the Papal Accademia dei Lincei and supported his discoveries. In 1616, Pope Paul V instructed Cardinal Bellarmine to inform Galileo that the Copernican theory could not be taught as fact, but Bellarmine's certificate allowed Galileo to continue his studies in search for evidence and use the geocentric model as a theoretical device. That same year Paul V assured Galileo that he was safe from persecution so long as he, the Pope, should live. Bellarmine's certificate was used by Galileo for his defense at the trial of 1633. Early life Camillo Borghese was born in Rome on 17 September 1550 into the Borghese family of Siena which had recently established itself in Rome. He was the eldest son of seven sons of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Great Depression
The Great Depression (19291939) was an economic shock that impacted most countries across the world. It was a period of economic depression that became evident after a major fall in stock prices in the United States. The economic contagion began around September and led to the Wall Street stock market crash of October 24 (Black Thursday). It was the longest, deepest, and most widespread depression of the 20th century. Between 1929 and 1932, worldwide gross domestic product (GDP) fell by an estimated 15%. By comparison, worldwide GDP fell by less than 1% from 2008 to 2009 during the Great Recession. Some economies started to recover by the mid-1930s. However, in many countries, the negative effects of the Great Depression lasted until the beginning of World War II. Devastating effects were seen in both rich and poor countries with falling personal income, prices, tax revenues, and profits. International trade fell by more than 50%, unemployment in the U.S. rose to 23% ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Noah Noble
Noah Noble (January 15, 1794 – February 8, 1844) was the fifth governor of the U.S. state of Indiana from 1831 to 1837. His two terms focused largely on internal improvements, culminating in the passage of the Mammoth Internal Improvement Act, which was viewed at the time as his crowning achievement. His taxing recommendations to pay for the improvements were not fully enacted, and the project ultimately led the state to negotiate a partial bankruptcy only a few years later. The debacle led to a gradual collapse of the state Whig party, which never regained control of the government, and led to a period of Democratic control that lasted until the middle of the American Civil War. After his term as governor he was appointed to the Board of Internal Improvement where he unsuccessfully advocated a reorganization of the projects in an attempt to gain some benefit from them. Early life Family and background Noah Noble was born in Berryville, Virginia, on January 15, 1794, o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Governor Of Indiana
The governor of Indiana is the head of government of the State of Indiana. The governor is elected to a four-year term and is responsible for overseeing the day-to-day management of the functions of many agencies of the Indiana state government. The governor also shares power with other statewide executive officers, who manage other state government agencies. The governor works out of the Indiana Statehouse and holds official functions at the Indiana Governor's Residence in the state capital of Indianapolis. The 51st, and current, governor is Republican Eric Holcomb, who took office on January 9, 2017. The position of the governor has developed over the course of two centuries. It has become considerably more powerful since the mid-20th century after decades of struggle with the Indiana General Assembly and Indiana Supreme Court to establish the executive branch of the government as an equal third branch of the state government. Although gubernatorial powers were aga ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hoosier Lottery
The Hoosier Lottery is the official state lottery of Indiana, and is the only US lottery that uses the state's nickname as its official name. It is a member of the Multi-State Lottery Association (MUSL). The Hoosier Lottery sells scratch-off tickets; its draw games include Mega Millions, Hoosier Lotto, Powerball, Cash 5, and Poker Lotto. The Hoosier Lottery is based in the state capital of Indianapolis, with regional offices in Mishawaka and Evansville. Indiana was among those states participating in the short-lived multi-state draw game ''Monopoly Millionaires' Club'' from October 19 to December 26, 2014. History In early American history, legislators commonly established lotteries to fund schools, roads, and other public works. The government of the Indiana Territory in 1807 chartered Vincennes University, authorizing it to raise up to $20,000 in a lottery, to provide for a library and other facilities. The lottery was a failure; after a year, those few tickets that had been ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Escrow
An escrow is a contractual arrangement in which a third party (the stakeholder or escrow agent) receives and disburses money or property for the primary transacting parties, with the disbursement dependent on conditions agreed to by the transacting parties. Examples include an account established by a broker for holding funds on behalf of the broker's principal or some other person until the consummation or termination of a transaction; or, a trust account held in the borrower's name to pay obligations such as property taxes and insurance premiums. The word derives from the Old French word , meaning a scrap of paper or a scroll of parchment; this indicated the deed that a third party held until a transaction was completed. Types Escrow generally refers to money held by a third party on behalf of transacting parties. It is mostly used regarding the purchase of shares of a company. It is best known in the United States in the context of the real estate industry (specifically in mo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ad Valorem
An ''ad valorem'' tax (Latin for "according to value") is a tax whose amount is based on the value of a transaction or of property. It is typically imposed at the time of a transaction, as in the case of a sales tax or value-added tax (VAT). An ''ad valorem'' tax may also be imposed annually, as in the case of a real or personal property tax, or in connection with another significant event (e.g. inheritance tax, expatriation tax, or tariff). In some countries, a stamp duty is imposed as an ''ad valorem'' tax. Operation All ad valorem taxes are collected according to the determined value of the taxed item. In the most common application of ad valorem taxes, namely municipal property taxes, public tax assessors regularly assess the property owner's real estate in order to determine its current value. The determined value of the property is used to calculate the annual tax collected by the municipality or any other government entity upon the property owner. Ad valorem taxes ar ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Indiana Department Of Local Government Finance
Indiana () is a U.S. state in the Midwestern The Midwestern United States, also referred to as the Midwest or the American Midwest, is one of four census regions of the United States Census Bureau (also known as "Region 2"). It occupies the northern central part of the United States. I ... United States. It is the List of U.S. states and territories by area, 38th-largest by area and the List of U.S. states and territories by population, 17th-most populous of the List of states and territories of the United States, 50 States. Its capital and largest city is Indianapolis. Indiana was admitted to the United States as the 19th state on December 11, 1816. It is bordered by Lake Michigan to the northwest, Michigan to the north, Ohio to the east, the Ohio River and Kentucky to the south and southeast, and the Wabash River and Illinois to the west. Various Indigenous peoples of the Americas, indigenous peoples inhabited what would become Indiana for thousands of years, some o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tax Deductions
Tax deduction is a reduction of income that is able to be taxed and is commonly a result of expenses, particularly those incurred to produce additional income. Tax deductions are a form of tax incentives, along with exemptions and tax credits. The difference between deductions, exemptions, and credits is that deductions and exemptions both reduce taxable income, while credits reduce tax. Above and below the line Above and below the line refers to items above or below adjusted gross income, which is item 37 on the tax year 2017 1040 tax form. Tax deductions above the line lessen adjusted gross income, while deductions below the line can only lessen taxable income if the aggregate of those deductions exceeds the standard deduction, which in tax year 2018 in the U.S., for example, was $12,000 for a single taxpayer and $24,000 for married couple. Limitations Often, deductions are subject to conditions, such as being allowed only for expenses incurred that produce current benefits. C ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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