Fearing the loss of another large in-state banking company, Indiana banking groups are pushing legislation that would reduce taxes for multistate banks and thrifts.

The Indiana Bankers Association, the Community Bankers Association of Indiana, and the Indiana League of Savings Institutions are promoting legislation that would tax in-state and out-of-state banks equally. Currently, banks chartered in Indiana pay taxes to the state on income generated at all branches-even those in other states. Out-of-state banks, however, pay Indiana tax only on the income generated there.

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