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Big jump in Indiana budget surplus triggering tax refund

Big jump in Indiana budget surplus triggering tax refund Tom Davies/AP Cris Johnston, director of Indiana s Office of Management and Budget, right, speaks during a news conference with state Auditor Tera Klutz at the Indiana Statehouse in Indianapolis, Wednesday, July 14, 2021. They announced Indiana s first automatic taxpayer refund since 2012 as the state government hit a record of $3.9 billion in cash reserves as of June 30. (AP Photo/Tom Davies) and last updated 2021-07-14 17:24:39-04 INDIANAPOLIS (AP) — A big jump in Indiana’s state tax collections over the past few months announced by state officials Wednesday will result in a refund for taxpayers, although they’ll have to wait until next year for that money.

Hoosiers To Get Taxpayer Refund After State Closes Books With Huge Surplus

Hoosiers To Get Taxpayer Refund After State Closes Books With Huge Surplus Unable to load the audio player. playpausemuteunmute Article origination IPBS-RJC Office of Management and Budget Director Cris Johnston (center) discusses the end of Indiana s 2021 fiscal year, along with State Auditor Tera Klutz (left) and State Budget Director Zac Jackson (right). Brandon Smith/IPB News Hoosiers will get a state tax refund when they file their taxes next year. That’s because the state finished the year with budget reserves of $3.9 billion, triggering Indiana’s automatic taxpayer refund. The automatic taxpayer refund was created a decade ago and only used once, in 2012, sending a $111 credit to Hoosier taxpayers.

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