As I have previously discussed, the State of Indiana was in the process of passing a budget for this fiscal year. Within its budget, the Indiana legislature sought to move the date the inheritance tax would expire to later this year. Recently, the State of Indiana passed its $30 billion budget; therefore, a plan in place to eliminate the inheritance tax. Other than eliminate the inheritance tax, the two-year budget will increase school funding and provide more than $300 million in tax cuts.
See Associated Press, Indiana Legislature Passes $30 Billion Budget, Indianapolis Business Journal, Apr. 27, 2013.
Special thanks to Sean J. Fahey (Hall Render Killian Heath & Lyman, P.C.) for bringing this article to my attention.
