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TOWN OF HIGHLAND COPYRIGHT © 2017

INDIANA BEST MIDWEST STATE FOR BUSINESS

 

Indiana was ranked as the best place to do business in the Midwest and the sixth-best nationwide in a survey of more than 500 chief executives by Chief Executive magazine.

 

The magazine's seventh annual "Best & Worst States" survey asks CEOs to evaluate states based on business tax policies, regulation, workforce quality and livability factors. Indiana's 2011 ranking is up from 16th place in 2010. It's among the highest year-to-year improvements in the survey.

 

Indiana's sixth-place ranking makes it the only Midwestern state in the publication's top 10. Among neighboring states, Kentucky ranked 17th, Ohio ranked 41st, Michigan ranked 46th and Illinois ranked 48th.

 

Source: buildingindiananews.com

WHY INDIANA?

COST OF DOING BUSINESS: TAXES

HIGHLAND & INDIANA TAXES

 

                                                                                                Indiana Highland

 

Corporate Income Tax                                                              8.5%*          --

Individual Income Tax                                                               3.4%          --

Sales Tax                                                                                  7.0%                 --

Indiana Gross receipts                                                              --                   --

Inventory Tax                                                                             --                   --

Property Tax Rate (pay 2010)                                                    --          2.3088 %

Top State Personal Capital Gains Tax                                       3.4%          --

Average Property Tax paid on residential property                -- $1820/year

 

*A decrease is expected over the next four years

 

 

INDIANA VS. ILLINOIS

 

                                                                                                 Indiana   Illinois

 

Total State Business Taxes/Sum of Corporate

State Income Tax, Workers' Compensation                        $ 132,236   $ 230,926

 

Corporate Income Tax Due Per Net Taxable

Income of $1 million (2011)                                                 $   85,000   $   95,000

 

Average Workers' Compensation

annual Premium Based on 100 Employees (2010)       $   47,236   $ 135,926

 

Source: Information provided by Indiana Economic Development Corporation

 

 

 

Click here for the Indiana Economic Development Corp. Executive Summary.

Town Municipal Building

3333 Ridge Road

Highland, IN 46322

 

Kathy DeGuilio-Fox

Director of Development

 

(219) 972-7598 office

(219) 972-5097 fax

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