Indiana relies heavily on individual income and sales taxes with a competitive 3.8% business tax rate, but its tax structure may hinder capital-intensive industries like manufacturing.
The Indiana Chamber Foundation's tax study reveals that Indiana relies heavily on individual income and sales taxes while maintaining a competitive business tax rate of 3.8%, the fifth lowest among benchmark states. The report indicates that this tax structure may hinder capital-intensive industries like manufacturing. Phase two of the study will explore tax reform opportunities aimed at enhancing business investment and overall economic growth in the state.
September 09, 2024
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