Last month, this blog covered a specific business tax cut plan that has been approved by the state Senate. The package passed by a 35-11 vote and would help cut taxes for local businesses including lowering property tax for 70 percent of companies and dropping the income tax 6.5 percent to 4.6 percent.

According to an article from the Northwest Indiana Times, some of the package is starting to take the next step. The House Ways and Means Committee and the Senate Tax and Fiscal Policy advanced the state's corporate income and business equipment tax. However, there have been several main differences that will keep the negotiations from reaching a compromise before the 2014 session ends in March.

For now it looks like these proposed tax cuts will remain in limbo. This is the case even though Governor Mike Pence was pushing for this to be done by the end of the 2014 session.

There was one agreement made that will save Indiana's heavy manufacturers millions of dollars. This will happen through a "super abatement," which allows county leaders to exempt companies from the tax for up to 20 years instead of the 10 years where it currently resides.

"It's definitely moving in the right direction in terms of where we started on the business personal property tax and where we need to go," Matthew Greller, executive director of the Indiana Association of Cities and Towns, told the news source.

For companies in the state, brighter times could be ahead. This means organizations can start embracing solutions like business management software to improve their overall operations.