New Tax Laws Kicked in January First

The New Year marks the end of several Indiana tax breaks. Indiana begins taxing ‘police reward money’ and lottery winnings this year. Until now, lottery jackpots were taxed only if you won more than 12-hundred dollars. Most new laws take effect on the fiscal New Year on July 1. But 19 new laws are tied to the start of the calendar year, many of them relating to tax law.