|
Local and State Taxes
| Corporate Adjusted Gross Income
Tax |
| Net Effective rate |
8.5% |
| Corporate Franchise Tax |
None |
| Personal Income
Tax |
| State Rate |
3.4% |
| Local Option Tax |
|
| - Resident |
0.70% |
| - Non-Resident |
0.18% |
| Sales and Use Tax |
6.0% |
| Exemptions include: manufacturing
raw materials, manufacturing equipment directly
used in direct production, pollution abatement
equipment, and software. In addition, most
services are not subject to this tax. |
| Unemployment Insurance |
| New Employer Rate |
2.70% |
| Experienced Employer Average
Rate |
1.30% |
| Taxable
Wage Base |
$7,000 |
| Workers'
Compensation (per $100 of payroll) |
| Average
Rate for Manufacturing |
$2.46 |
| Average
Rate for Distribution |
$3.71 |
| Average
Rate for Office |
$0.27 |
Property
Tax (per
$100 of fair market value in use)
Property
Tax Formulas |
| Link
to Stats Indiana 2004 Boone County Property
Tax Rates |
| Inventory
destined for out-of-state shipments may be
exempt. In tax year 2006 payable 2007, the
inventory tax is completely eliminated. |
1. 2001 payable 2002, Indiana
Department of Revenue, Indiana Tax Commission.
2. Worker's Compensation Board of Indiana, Indiana Compensation Ratings Bureau,
Department of Workforce Development-Unemployment Insurance Division/US Dept.
of Labor.
|
|
