Indiana Provides Income Tax Credit for Certain Railroad Expenditures

The Indiana Governor signed a law concerning roads and transportation. The law includes: 1) providing an income tax credit for qualified railroad expenditures and qualified new rail infrastructure expenditures, effective Jan. 1 and sunsetting Dec. 31. 2027; and 2) increasing the maximum rate a county containing a consolidated city may impose for the county wheel tax and the county vehicle excise tax, effective July 1. [H.B. 1461, enacted 05/01/25]

This story was produced by Bloomberg Tax Automation, and edited by Bloomberg Tax staff.