For the third year in a row, I filed my family taxes only to then receive a "replacement tax statement package" from my investment company of choice. (Yes, those investment totals continue to shrink, but who isn’t sinking in that boat).

But we’re here to discuss business taxes — with the complications there making my amended 1040 seem rather paltry. The Indiana Chamber continues to offer a variety of resources to assist companies with federal and state needs, while the Indiana Department of Revenue (IDOR) has put in place a new online tool to make it easier to conduct business with the state.

Newcomers first: IDOR’s New and Small Business Education Center provides interactive video assistance and a direct connection to INtax — where needed forms can be obtained and various types of taxes can be paid. IDOR Commissioner John Eckart offers the example of a business that is expanding and hiring new employees being able to find information about state withholding taxes.

Chamber resources come in a trio:

• The 2009 Indiana Tax Conference on June 2-3. Participants learn the latest federal and state changes from issue experts
• The Indiana Taxation Handbook, which includes numerous recent updates and provides comprenhensive information in an easy-to-understand manner
• A free tax helpline (for Chamber members only), manned by Chamber tax and fiscal policy expert Bill Waltz, who can answer your questions and link you to additional resources

Don’t go it alone. Take advantage of the tax help that is available in our state.

George Raymond, the Indiana Chamber’s VP of Human Resources & Labor Relations, lays it out pretty succinctly in this Fort Wayne Journal-Gazette article:

A House Democrat unveiled a proposal for fixing Indiana’s unemployment insurance system Monday that would triple taxes on employers to fund unemployment claims.

“The type of tax increase this bill calls for is going to cause additional terminations of employment,” said George Raymond, lobbyist for the Indiana Chamber of Commerce. “That’s a tremendous burden.”

Indiana’s unemployment trust fund has had a structural imbalance since 2001 and ran out of money last year – forcing the state to borrow at least $725 million from the federal government to pay unemployment.

The Democratic-controlled House failed to pass a bill addressing the issue during the first half of the session. Then, the Republican-led Senate passed a plan that raised about $870 million in new annual revenue for the fund through both direct tax increases as well as benefit and eligibility changes.

The Senate version would permanently increase business taxes $328 million annually starting in 2010.

House Bill 1379 is now in conference committee, where conferees from all four legislative caucuses are trying to negotiate a compromise.

Rep. David Niezgodski, D-South Bend, presented a proposed conference committee report Monday that included more than $1 billion in new taxes on employers.

Frugal Hoosiers has more on the matter.

Trying to figure out how your organization can take advantage of all that federal stimulus money? Join the crowd.

The Indiana Chamber has developed a page linking to a variety of federal and state government resources. It’s a start. But you need more help? Understandable.

We are partnering with Baker & Daniels law firm to present a full-day seminar with a somewhat imposing name — The Stimulus Business: Business Opportunities in the American Recovery & Reinvestment Act. But the May 20 conference at the Hyatt Regency will simplify the complexities of the funds emanating from Washington and offer insights that you can use.

The full agenda is still being developed, but you can learn more and register today.

Ok, I’m getting as sick of writing about Twitter as you are of reading about it, but this is interesting: Eweek.com illustrates the shocking pace at which Twitter use is growing. Also, you’ll be happy to know Oprah is now using the microblogging technology, so its existence is officially validated:

Twitter grew 131 percent in March 2009, according to research firm ComScore, which pegged the site’s visitors at 9.3 million, up from 4.3 million in February. Twitter drew increased attention recently over rumors of a possible Google acquisition. A ComScore analyst attributes a substantial portion of Twitter’s growth to increased media attention.

Twitter grew 131 percent in March 2009, with its total site visitors cresting at 9.3 million, up from 4.3 million in February.

The microblogging site, which lets its users post "tweets" of 140 characters or less on any particular topic, has been embraced by general users and the enterprise as a supple social networking tool. Twitter has been adding new features, and befitting its increased profile, has been rumored as a Google acquisition target. 

"One interesting theory alluded to by several people in last week’s discussion was that the mainstream media attention on Twitter is really helping fuel its growth," Andrew Lipsman, an analyst with ComScore, wrote in a corporate blog posting on April 15. "And there may certainly be some merit to that. It seems you can’t get through a typical newscast anymore without some mention of Twitter."

Lipsman cited Newt Gingrich’s use of Twitter to comment on President Obama’s handling of the Somali pirate crisis as an example of how far the site has penetrated into both daily life and the hourly mass-media stream. He suggested that Twitter is changing the way "our entire news ecosystem operates."

Be sure to follow us at www.twitter.com/indianachamber. In addition to blog updates, we keep readers updated on our media appearances and other business-related info.

Indiana State Sen. Marlin Stutzman (R-Howe) has admitted he is at least considering a 2010 congressional challenge to Sen. Evan Bayh.

If so, he will have some long financial odds to overcome. In the first quarter of this year, and without a confirmed challenger, Bayh raised $600,000. The even more impressive total, according to the National Journal, is that this gives the Democrat junior senator about $11 million in the bank.

What does that mean? Two things: Like a Boy Scout, Bayh is always prepared. Two, that preparation may keep Stutzman and/or others on the sidelines. It will be interesting to see what takes place.

The Environmental Protection Agency (EPA) released an endangerment finding on Friday for greenhouse gases. What does that mean? Two members of Congress have decidedly different views.

Edward Markey (D-Massachusetts), Energy and Environment Subcommittee chairman in the House: "History will judge this action by EPA, along with the Supreme Court decision (which led to the EPA review)  … as the environmental equivalent to what Brown v. Board of Education meant to our nation’s civil rights laws."

James Inhofe (R-Oklahoma), Environment and Public Works ranking member in the Senate: The finding "is the beginning of a regulatory barrage that will destroy jobs, raise energy prices for consumers, and undermine America’s global competitiveness."

President Obama and Democratic leaders want to move forward legislatively with a cap and trade plan, along with renewable energy and efficiency mandates. The House Energy and Commerce Committee will hold four days of hearings this week on a draft plan, including an expected 80 witnesses.

The impact on Indiana, and its reliance on coal, would be enormous. Yes, protecting the environment is important. Doing so at the expense of business and economic development would be devastating. 

Honda (Greensburg), an Indiana Chamber member, recently announced:

Honda leaders shared their direction for overcoming the difficult economy at the company’s annual supplier conference Thursday, saying that this time of challenging business conditions provides a unique opportunity to increase flexibility and make significant operational improvements.

Honda also recognized 60 of its suppliers for their top performance last year in the critical areas of quality, on-time parts delivery and productivity improvements. With one triple and 10 double award recipients, Honda presented 72 awards to its North American parts suppliers, including Ryobi Die Casting (USA), Inc., Shelbyville, Ind., recognized for outstanding Delivery Performance. Ryobi provides engine brackets for Honda production in Ohio. (Ryobi Die Casting was the only Indiana company recognized in this year’s awards from Honda.)

Several other suppliers to Honda Manufacturing of Indiana, LLC, based in Georgia, Kentucky, Michigan, Nebraska, North Carolina, Ohio, and Tennessee were also recognized.

Timing of the annual conference in the middle of a difficult economy is not easy, but does provide opportunities, said Hidenobu Iwata, president and CEO of Honda of America Mfg., Inc., and leader of Honda’s North American manufacturing. He added his appreciation for the strengthening partnership with suppliers to improve production characteristics.  “Our ultimate commitment is to our customer,” Iwata said.  “This has served us well in North America over the past 50 years and will continue to lead our way for the coming 50 years.  I would say this commitment is more important than ever before.” Read the rest of this entry »