Illinois court holds that tax deed was not void for lack of proper notice

Illinois court holds that tax deed was not void for lack of proper notice

Excalibur Energy (“Excalibur”) attempted to void a tax deed for certain property for which the defendant, Marilyn Rochman, also claimed ownership. To achieve this end, Excalibur filed a new action in circuit court for ejectment claiming that because the tax deed did not include a legal description of the …

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Indiana Supreme Court refuses to apply a company’s foreign source dividend deduction to its NOL calculations

Indiana Supreme Court refuses to apply a company’s foreign source dividend deduction to its NOL calculations

On August 25, 2014, the Indiana Supreme Court issued its decision in Indiana Department of State Revenue v. Caterpillar, Inc., holding that the plain meaning of the Indiana tax statutes prohibited the company from increasing its net operating losses (NOLs) by deducting foreign source dividend income.  The Court …

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Invest a Little to Make a Lot More: Why Indiana should create an event incentive fund to leverage state taxes

Invest a Little to Make a Lot More: Why Indiana should create an event incentive fund to leverage state taxes

In addition to looking at taxes to cut, let’s look at ways to invest a little to make a lot more. For starters, consider visitor spending where more than 26 million people who visit Indy every year generate more than $256 million in state sales tax revenue.  That’s more than the Hoosier Lottery, and that’s …

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Racquet Club argues for lower land assessments that “felt right,” loses Indiana property tax appeals in straight sets

Racquet Club argues for lower land assessments that “felt right,” loses Indiana property tax appeals in straight sets

On August 21, 2014, the Indiana Tax Court in Indianapolis Racquet Club, Inc. v. Marion County Assessor, Cause No. 49T10-1201-TA-1, affirmed the 2002 assessment of a tennis club situated on three contiguous parcels and comprised of indoor and outdoor tennis courts, locker rooms, and retail and administrative space …

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There’s One for You, Nineteen for Me – Ideas for the better investment of State & Local taxes in Indiana

There’s One for You, Nineteen for Me – Ideas for the better investment of State & Local taxes in Indiana

  There’s a fair amount of talk lately about cutting taxes, instituting new taxes, and simplifying taxes in Indiana. All this is healthy debate, but we also need to focus on the distribution of our tax dollars. Here are some ideas that should help us invest more where it counts: The business …

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Indiana property tax rulings:  charitable purpose exemption for rented home and duplex; taxpayers prevail with USPAP appraisal, lose with “hodgepodge” of questionable valuation methods

Indiana property tax rulings: charitable purpose exemption for rented home and duplex; taxpayers prevail with USPAP appraisal, lose with “hodgepodge” of questionable valuation methods

The following summaries of final determinations by the Indiana Board of Tax Review from the first half of 2014 were prepared by Noeli E. Serna, a 2014 summer associate at Faegre Baker Daniels who will be entering her second year of law school at Northwestern University School of Law this fall. Indiana Board …

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