Local & State Taxes
Welcome to Northeast Indiana, where we are frequently recognized as having one of the most business-friendly tax climates in the country. Our region currently ranks eighth in best tax environments in the United States and the best in the Midwest, based on the 2016 State Tax Environment Index by the Tax Foundation. This business-friendly tax climate creates a thriving community for innovative businesses and growth.
In Indiana we take creating an environment that’s good for business seriously. Due to legislation in 2011, Indiana’s corporate income tax rate fell by 2 percent. This was the continuation of a scheduled multiyear reduction, which will ultimately see the corporate income tax rate reduced to 4.9 percent by 2022, which would make Indiana’s the second-lowest corporate tax rate of any state levying the tax.
The corporate income tax rate will be 4.9% starting July 1, 2021.
Property taxes in Northeast Indiana vary by township and range from 0.61 percent to 4.39 percent, with a median rate of 1.77 percent. Pursuant to state law, property taxes are capped at 1 percent of assessed value for homesteads, 2 percent for other residential and agricultural properties, and 3 percent for business property. Property tax rates on real and personal property are frequently abated for up to 10 years to support economic development projects.
We are frequently recognized as having one of the most business-friendly tax climates in the country.
Want to know more about how Indiana’s tax climate may be beneficial to your business? Give our offices a call today. We’d be happy to dive into all the details to see what a move to Northeast Indiana might mean for your bottom line.Call Us