Indiana lawmakers have rejected a proposal that would have lowered taxes for Indiana-based banks that do business in other states.

Under current law, Indiana collects taxes from multistate banks and thrifts on income earned inside and outside the Hoosier State. For example, First Financial Corp. in Terre Haute pays Indiana taxes on its earnings at its two in-state banks and its three Illinois subsidiaries.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.