Heuer: Tax Exemptions for Research and Development (5/29/2013)

Wednesday, May 29, 2013 7:00 pm

Start Date:  5/29/2013  All Day  

STATEHOUSE- State Representative Kathy Heuer (R-Columbia City) co-authored House Enrolled Act (HEA) 1545, dealing with various tax matters.  This bill was signed into law by Governor Pence last week. 

“The provisions in this bill are beneficial to Hoosier businesses across the state,” said Rep. Heuer. “By cleaning up some tax credits that are seldom used, we are able to create less confusion for businesses that are looking for incentives from the state.”

Rep. Heuer authored the language in HEA 1545 relating to research and development property. The law expands sales tax exemptions for research and development equipment to include any tangible personal property used for research and development and to any businesses that contract research and development. 

Currently, the Indiana Code only allows for the sales tax exemption to include equipment that is directly related to research and development.  

“This language will help clarify what equipment will qualify for a sales tax exemption,” said Rep. Heuer.  “With this change, we hope to see more Indiana corporations making investments in research and development, which will make them more competitive in today’s globally dynamic marketplace.”

HEA 1545 also modifies the attributes of abatements regarding economic revitalization areas, interest rates, sales tax for aircraft repair, maintenance, remodeling and aviation fuel, the Hoosier Business Investment Tax Credit and Rainy Day Fund transfers. 

For more information on the legislature and this new law, please visit http://in.gov/legislative/.