Tax Suspension on Tips, Overtime Passes State Senate Committee

The Indiana Senate Committee on Tax and Fiscal Policy has approved a move to eliminate state taxes on tips, overtime, and loan interest. The move would sqare the state tax code with recently passed Federal tax guidelines.
The move was praised by State Senator Rod Bray as concrete way to let Hoosiers keep more of their money. The bill passed with bipartisan support in committee; it now heads to the full Senate for consideration. If approved, it would go into effect this year, for taxes payable next year.