Indiana Ranks in Top 10 Best States Business Tax Climate

Date: October 02, 2018

If you’re a small business owner in Indiana, you’re in luck: your tax filing requirements are among the best in the nation.

According to the Tax Foundation’s 2019 State Business Tax Climate Index, Indiana’s business tax climate was ranked, overall, 10th in the country. Released annually, the index is a measure of state tax systems and how well they’re structured to help enable policymakers, business leader, and taxpayers to make decisions that may help their state’s economy.

Breaking down Indiana’s tax climate, the Hoosier State ranked second for property taxes, 18th for corporate taxes, 15th for individual taxes, and 11th for unemployment insurance taxes.

“Indiana saw consistent rate reductions through a series of responsible tax reform efforts between 2011 and 2016,” stated the 2019 Tax Climate Index. “For 2018, the corporate income tax rate declined from 6 to 5.75 percent. This rate reduction, among other changes, drove an improvement of six places on the corporate component of the Index.”

The ten best states for tax rates include Wyoming, Alaska, South Dakota, Florida, Montana, New Hampshire, Oregon, Utah, Nevada, and Indiana.

The ten worst states for tax rates include Ohio, Minnesota, Louisiana, Iowa, Arkansas, District of Columbia, Connecticut, New York, California, and New Jersey.  

Read more about the study here: https://statetaxindex.org/

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