Indiana senator proposes lowering corporate tax

East Allen Times:

INDIANAPOLIS — An Indiana senator wants to lower the state's corporate income tax from 8.5 percent to 5 percent.

Republican Sen. Brandt Hershman of Lafayette says Indiana already has a relatively low cost of doing business, but that the corporate income tax is seen as a hindrance to job creation because it is one of the highest in the Midwest. He says lowering the corporate income tax would make the state a more attractive place for companies.

The nonpartisan Legislative Services Agency is working to determine how much the state might lose if it lowered the tax rate. Hershman says there will be an up-front cost to the state but believes other parts of the legislation can help offset that price tag without raising taxes elsewhere.....