Cost Of Doing Business
Indiana continues to have one of the most competitive tax codes in the nation, according to an annual study. The Tax Foundation’s 2020 State Business Tax Climate Index ranks Indiana 10th for its overall tax climate, and tops in the Midwest.
Indiana has one of the best worker's compensation rates and unemployment tax rates in the nation. In addition, the state’s average weekly wage is very competitive.
At a time when other states are raising taxes to keep up with mounting state debt, Indiana’s long history of smart fiscal choices, balanced state budgets and cash reserves in a rainy day fund puts the Hoosier State in a position to actually lower taxes. Indiana’s corporate income tax rate is steadily decreasing each year, from the current 5.25% to a projected 4.9% by 2021.
Indiana has received the following national acknowledgements for its competitive business climate:
- Indiana ranks first in the Midwest and 7th nationally for low business costs (Forbes magazine, December '19)
- Indiana ranks first in the Midwest and 10th nationally for business tax climate (Tax Foundation, September '20)
- Indiana is the best state in the Midwest for business and fifth best nationally (Chief Executive magazine, December '19)
- Indiana has the 10th best business climate in the nationby the Tax Foundation for 2017(Area Development Magazine September '19)