INDIANAPOLIS—The Indiana Society of Association Executives (ISAE) presented the Indiana CPA Society (INCPAS) with its second consecutive Innovative Communications Award at its 2023 STAR Awards ceremony celebrating associations in Indiana.
ISAE Outstanding Government Affairs Program Award
Indiana Pass-Through Entity Taxation
In the 2023 Indiana General Assembly, Senate Bill 2 was introduced to replicate the revenue success other states had seen with implementations of a tax on Pass-Through Entities.
After dealing with 3 years of tax filing deadline extensions AND confusion around pandemic relief funding and tax credits, members had significant concerns about trying to tackle yet another tax proposal that would have ramifications legislators wouldn’t know about until the bill was already passed.
Clarity and expedience at the Statehouse where key. INCPAS worked with the bill authors to help ensure the final version of the Senate Bill provided the information CPAs would need, not only in complying with a new PTET tax, but also the effective date. Through our efforts, an amended bill was fast-tracked and signed by Gov. Holcomb with a retroactive effective date of January 1, 2022.
While our advocacy team was securing that success, INCPAS had also quickly assembled resources members needed throughout the process, including: real-time updates in the member Open Forum, a PTET Web Resource Hub, free PTET webinars, and direct updates from the Indiana Department of Revenue Commissioner. We have continued our advocacy efforts by working with the Indiana Department of Revenue on guidance and implementation of the PTET.
About the Indiana CPA Society
The Indiana CPA Society is a statewide professional association representing nearly 7,000 CPAs and accounting professionals who are transforming business in Indiana.