Significant tax relief for Hoosier employers could be on the horizon if the state’s revenues do well the next few months.
Indiana took out a more than $2 billion loan from the federal government at the height of the recession to pay unemployment benefits. It’s been paying it back ever since.
And as long as the state owes money on the loan, employers have to pay a penalty.
This year, that penalty is $105 per employee; next year, it rises to $126.