September 21 2017 Newsletter (888) 516 9594
TIME SENSITIVE REMINDER:  Adjust LIT by 10/31 to Generate Addtn’l Revenues

We have heard from a number of local units who are anticipating a revenue shortfall next year as you project next year’s revenue and plan your 2018 budgets. We have also heard that because of this serious dilemma, many are considering or in the process of adopting/amending a Local Income Tax (LIT) in your County.

We just wanted to remind you that it is not too late to adopt or adjust a LIT rate for next year – but time is quickly running out. If you adopt a LIT or adjust your LIT rate by October 31, the new rate will be in effect – and producing revenue for you – starting January 1, 2018.

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SEC Fines Local Official $37,500

Since 2014, municipal bond issuers have experienced a heightened focus on continuing disclosure for outstanding bond issues and disclosures to the market for failures to comply with these obligations. Over the past few years, Umbaugh’s client list to which the Firm provides continuing disclosure services has grown to include over 460 filings in Indiana and Michigan.

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