Indiana Senate Bill 314

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Spectrum: Partisan Bill (Republican 2-0)
Status: Introduced on January 13 2025 - 25% progression
Action: 2025-01-13 - First reading: referred to Committee on Tax and Fiscal Policy
Pending: Senate Tax and Fiscal Policy Committee
Hearing: Feb 4 @ 9:00 am in Room 431
Text: Latest bill text (Introduced) [PDF]

Pass through entity tax. Amends a provision of the pass through entity tax concerning the determination of a resident direct owner's share of adjusted gross income before allocation and apportionment of that income to allow the electing entity to exclude the resident direct owner's share of adjusted gross income tax that is subject to an individual income tax in another state from the determination. Specifies that other tax credits that pass through to the entity owners apply to the pass through entity tax. (Under current law, when those tax credits pass through to the entity owners they do not apply to the pass through entity tax.)

Pass through entity tax.

Sen. Scott Baldwin [R]

Sen. Travis Holdman [R]

Date	Chamber	Action
2025-01-13	Senate	First reading: referred to Committee on Tax and Fiscal Policy
2025-01-13	Senate	Authored by Senator Baldwin
2025-01-13	Senate	Senator Holdman added as second author

Type	Source
Summary	https://iga.in.gov/legislative/2025/bills/senate/314/details
Text	https://iga.in.gov/pdf-documents/124/2025/senate/bills/SB0314/SB0314.01.INTR.pdf
Supplement	https://iga.in.gov/pdf-documents/124/2025/senate/bills/SB0314/fiscal-notes/SB0314.01.INTR.FN001.pdf