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March 2, 2010
A number of business tax changes went into effect as of January1 this year. It is important for businesses to know about these changes to ensure they remain compliant with Indiana tax laws. Below is a list of the 2010 tax changes:
2009 Corporate Forms Reflect Major Changes
Business tax forms for Indiana have undergone some significant changes this year due to seven new “add-backs” included on the corporate tax returns. Those add-backs are the result of changes in federal tax law that may have allowed a deduction at the federal level, but the amounts deducted must be added back to the income reported on the state return. Also, the Composite Filer Credit has been eliminated and an Energy Star heating and cooling equipment tax credit, as well as, a solar power roof vent or fan deduction is now available.
New Schedule IN-PAT
A new form—the Schedule IN-PAT, “Qualified Patents Exemption Schedule” – has been created for taxpayers (both corporate and individual) who qualify to claim these patent exemptions.
WH-1 Form Changes
The layout of the 2010 withholding tax form, WH-1, has changed to better collect the county breakdown of withholding taxes, which can be found on the back of the form. To ensure that businesses are reporting accurately, a new check box has been added requiring the business to verify that it has filled out the back of the form.
New Requirement for Businesses to Use INtax
Effective Jan. 1, 2010, new businesses that register with the Department to collect sales and withholding taxes will be required to electronically file and pay these taxes using INtax. To find out more about INtax, visit www.intax.in.gov/
Expired RRMC List
Effective Jan. 1, 2010, the Department of Revenue is required to list online all businesses on file with the state as having expired registered retail merchant certificates (RRMCs) due to nonpayment of delinquent sales taxes. The list will be updated regularly and has no end date. To view the list and frequently asked questions, visit www.in.gov/apps/dor/rrmc/Default.aspx
For more information about state business taxes, visit the New and Small Education Center at www.smallbiz.in.gov/
If you would like to contact the Department and speak to a bilingual representative, call (317) 232-2240 (press 2 for Spanish) from 8 a.m. to 4:30 p.m., Monday through Friday, or submit questions via e-mail to email@example.com Taxpayers may also visit the Department’s Spanish Web site at www.impuestos.in.gov/
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