Signed by the President of the Senate
Summary
The bill revises Indiana’s tax statutes to define the “Internal Revenue Code” as the federal tax code as it stood on January 1 2023 and treats that version as incorporated into state law. It also specifies that for certain sections the code is deemed to be the version in effect on July 4 2025, and the changes apply retroactively to tax years beginning on January 1 2025. These adjustments affect how Indiana calculates adjusted gross income, corporate, trust, insurance, and other taxable incomes for state tax purposes.
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