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Indiana income, sales and property tax legislation enacted

Indiana Gov. Mike Pence has signed several bills that change important elements of Indiana income, sales and property tax laws. Changes to the corporation income tax include an updated Internal Revenue Code conformity date, modifications to the intercompany interest addback rules and enactment of a study to determine the potential impact of mandatory unitary combined reporting. The legislation also modifies sales and use tax provisions to clarify how tax related to materials incorporated into real property by a retailer-contractor should be taxed, and makes significant changes to various incentive programs. The provisions take effect on various effective dates, some of which are retroactive.

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