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Indiana Ranks among the Best for Tax, Business Climate

Tuesday, November 15, 2016
 

Area Development Magazine and the Tax Foundation recently each released their respective state rankings, and both put Indiana among the best.

Calculating their results from surveys of professionals within the site consulting industry over ten different categories, Area Development Magazine reports Indiana comes in 1st for the Midwest and 8th overall. Last year, Indiana was ranked 6th overall. The publication cited Indiana’s below-average cost of living and declining corporate tax rates as well the leeway the state gives its counties to create additional tax breaks for businesses. They also report that Indiana and Ohio are tied for the title of state that’s working hardest to improve economic development policies.

The 2016 top ten states for business climate are:

  1. Georgia
  2. South Carolina
  3. Texas
  4. Tennessee
  5. Louisiana
  6. Alabama
  7. Florida
  8. Indiana
  9. North Carolina
  10. Mississippi

For full rankings and more information, visit: http://www.areadevelopment.com/Top-States-for-Doing-Business/q3-2016/survey-results-top-states-analysis-676777.shtml

Meanwhile, the Tax Foundation has more recently released their rankings of the states according to best business tax climate. This organization ciphered through each state’s tax codes and analyzed over 100 variables to make their determination.

This year, Indiana came in 8th overall. More specifically, Indiana was 4th for property taxes, 10th for sales tax and unemployment insurance tax, 11th for individual income tax and 23rd for corporate income tax. Worth noting is that Indiana’s ranking could be higher soon due to already-approved tax cuts that will go into effect next year.

The 2017 top ten states for business tax climate are:

  1. Wyoming
  2. South Dakota
  3. Alaska
  4. Florida
  5. Nevada
  6. Montana
  7. New Hampshire
  8. Indiana
  9. Utah
  10. Oregon

For more information, visit: http://taxfoundation.org/article/2017-state-business-tax-climate-index

Area Development Magazine

www.areadevelopment.com

 

The Tax Foundation

www.taxfoundation.org

 

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