New Year Marks End To Several Indiana Tax Breaks

Last updated on Wednesday, January 6, 2016

(UNDATED) - The new year marks the end of several Indiana tax breaks.

Most new laws take effect on the fiscal new year on July 1. But 19 new laws are tied to the start of the calendar year, many of them relating to tax law.

According to Indiana Network, Indiana begins taxing police reward money and lottery winnings this year. Until now, lottery jackpots were taxed only if you won more than $1,200.

Legislators abolished little-used tax credits for historic preservation, donated computers, home insulation and solar roof vents. And they've clarified that not only can you only claim one homestead deduction, but only one person can take the deduction for a single property.

Other new laws include:

Judges are now barred from sending runaways to juvenile detention if that's their only offense.
Large insurers are now required to conduct internal audits.
The Bureau of Motor Vehicles will be responsible for issuing ID cards without photos for people with religious objections to being photographed.

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