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Last updated on Saturday, March 10, 2012
(UNDATED) - Hoosier taxpayers can expect a 40-or-50-dollar tax rebate this summer, but the criteria for future rebates have changed.
In the final act of this year's general assembly, legislators voted to require a cushion of one-eighth of state spending to trigger a rebate. Current law sets the threshold at one-tenth. Anything over the threshold will be split between taxpayers and state pension funds.
Instead of basing your rebate on how much you paid, each taxpayer will now receive an equal share of the pie -- but the estimated 10-percent of Hoosiers who don't owe any income tax will be excluded from the rebate.
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