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Articles for May 16, 2007
 Umbaugh's News  
2007 PROPERTY TAX RELIEF  

The 2007 Indiana General Assembly recently enacted legislation to provide Indiana property taxpayers with possible future reductions in local property taxes. The legislation also provides local government with potential relief from the Circuit Breaker Tax Credit and the potential for additional revenues for public safety.

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CONTINUING DISCLOSURE: ANNUAL REPORT FILING FOR ISSUERS OF BONDS  

In a previous issue of Footnotes, we described the requirement to disclose material events for issuers of bond issues larger than $1 million. In addition to material event filings, large issuers (those with more than $10 million in combined outstanding debt) are also required to file annual reports pursuant to SEC Rule 15 (c) 2-12. The deadline for annual report filings is June 30, 2007.

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CIRCULAR 230 DISCLOSURE:

To ensure compliance with recently-enacted U.S. Treasury Department Regulations, we are now required to advise you that, unless otherwise expressly indicated, any federal tax advice contained in this communication, including any attachments, is not intended or written by us to be used, and cannot be used, by anyone for the purpose of avoiding federal tax penalties.

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