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DOR > About Us > Resources > Tax Talk Blog > New tax laws coming up to bat July 1 New tax laws coming up to bat July 1

May 27, 2008

Doesn’t it seem like every year you hear about new laws that may have an impact on you and/or your business? You want to be able to plan ahead, but with all the changes, it’s a challenge keeping it all straight. Right?

Well, we’ve got the solution to this problem. The best source for new state tax law information is at our Web site at www.in.gov/dor/index.html

First, check out the Notices right in the middle of our home page. Many of the most current updates are posted there. For example, if you visit our site right now – I mean right this very minute – you’ll find updates about the new sales tax that went into effective April 1 and a link that leads you to answers about Indiana state taxes and your county-tax rebate checks.

We recommend checking this area once a week or so just to keep on top of any changes that may have an impact on you and/or your business.

But, if you really want to dig in to all the state tax laws that were passed this year, get yourself a strong cup of joe and check out the 2008 Synopsis of Legislation Affecting the Indiana Department of Revenue. Here you’ll find a summary of the 2008 changes/updates by topic and tax type (such as sales tax, withholding tax, etc.).

However, if you just want some of the highlights, check out the list below. These are some of the new tax laws that become effective July 1, 2008:

Electronic payments

  • Payments made to the Department by credit card, debit card or electronic funds transfer (EFT) that don’t clear the bank are subject to the same penalties as a returned check. (The penalty starts at 10 percent, and can increase up to 100 percent if not taken care of in a timely manner.)
  • Also, if a distributor is purchasing cigarette stamps on credit, the payment must be made by EFT.

Sales tax tidbits

  • Sales tax applies to the rental of an aircraft, but not to the cost of flight instruction when a person rents an aircraft for flight instructions services.
  • The sales tax exemption for media production expenditures is extended until Dec. 31, 2011, and
  • Gambling games sold to taverns are exempt from Indiana sales tax.

Gaming

Remember, these are just a few of the new law changes that could affect you and/or your business. So, keep our Web site in your Favorites for updated notices that can help keep you up to date.