(Sean Pavone/Getty Images)
WIBC host Tony Katz says it’s time for Indiana to revoke its 3.23{342d4ff9325a28dcb7f2c75b24c2a469a7c28c0aebd22d83bf56550a2655925a} state income tax in order to lure more business to the Hoosier state, boost economic growth, and make Indiana more competitive with states like Tennessee, which has no income tax but does have a “hall tax” of 6{342d4ff9325a28dcb7f2c75b24c2a469a7c28c0aebd22d83bf56550a2655925a} on interest and dividends.
Katz:
“I think Indiana should move to a zero state income tax and make itself competitive with Tennessee, plus, create further differentiation from Ohio, from Kentucky, from Illinois, from Michigan. One man’s thesis of how we should do things.”
Katz’s commentary was prompted by new data showing that the legalization of online sports betting has generated more than $880K in tax revenue for the month of November.
“People like to bet and this is growing. Connecticut, Massachusetts, Missouri, and Ohio are now looking deeper into it. These are states that had tried it previously and it didn’t work out for them. They’re now taking a second look. Georgia now wants to get into it.
“States are proving it. They’re absolutely proving it, and Indiana is absolutely proving it, that it’s working.”
Click the link below to hear Tony’s full commentary.
