Effective July 1, 2017, Indiana requires remote sellers to collect and remit sales tax on sales of tangible personal property, products transferred electronically, and services delivered in Indiana if gross revenue or number of sales exceed a certain threshold. News & Tips Indiana Enacts Marketplac...
Physical nexus means having enough tangible presence or activity in a state to merit paying sales tax in that state. Economic nexus means passing a states’ economic threshold for total revenue or the number of transactions in that state. Do you have physical nexus in Indiana? Indiana considers...
This article reports on the update made by the Department of Revenue in Indiana to an informational bulletin on the sales tax exemption for food and food ingredients. The Department of Revenue has added to the list of nontaxable food items frozen juice bars and popsicles. The updated bulletin ...
Revenue raised through the sales tax is generally used for local economic development and tourism projects. Examples include the Indiana Convention Center and Lucas Oil Stadium, both of which were paid for with sales tax revenues. Is the Indiana Sales Tax Destination-Based or Origin-Based?
In 2022, Indiana charges a 7% sales tax on most retail purchases. Some exemptions apply. The Indiana Department of Revenue provides a detailed breakdown of a business’s obligations regarding sales tax. What is Indiana’s corporate tax rate?
top republicans in the state senate, however, have been hesitant on the tax cut question. much of indiana’s revenue growth has come from a nearly 12% increase from last year in sales tax collections, which make up about half of state government’s general revenue, and s...
HOW TO OBTAIN INDIANA STATE’S SALES TAX EXEMPTION: FileForm NP-20A, together with a copy of the IRS determination letter. Send to: Indiana Department of Revenue Tax Administration P.O. Box 7206 Indianapolis, IN 46207-7206 Once sales tax exemption has been granted, the organization must suppl...
Indiana LLCs that sell physical products are required to collect sales taxes. These are then passed on to the Indiana State Department of Revenue. Currently, the state imposes a sales tax of 7 percent. A Registered Retail Merchant Certificate (RRMC) is issued as soon as this process is comp...
Depending on your business activities and location, you might also need to follow local taxes. Register with the Indiana Department of Revenue to get a retail merchant certificate, which allows you to collect sales tax. Employer Taxes: If your Indiana LLC has employees, you are responsible for ...
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