STATEHOUSE (Sept. 28, 2016) — Indiana again ranks first in the Midwest and eighth in the nation for its business tax climate, according to the nonpartisan Tax Foundation, announced State Sen. Brandt Hershman (R-Buck Creek).
The 13th annual edition of the State Business Tax Climate Index analyzes each state’s tax code by assessing over 100 tax variables in five categories: corporate, individual income, sales, property and unemployment insurance taxes.
This year, Indiana improved in the sales, property, and unemployment tax categories.
“Employers invest in areas where they see the most potential for growth and success, and creating a tax climate to help them achieve that end is one of the most important aspects of attracting high-paying jobs to our state,” Hershman said. “Today, Indiana has more Hoosiers working than ever before, and our unemployment rate sits at 4.5 percent, which is below the national unemployment rate. It is vital for Indiana lawmakers to continue fostering our business-friendly tax climate so we can build on our record employment levels in the months and years ahead.”
Hershman, who serves as the chair of the Senate Committee on Tax and Fiscal Policy, noted that Indiana continues to out-perform neighboring states — Illinois ranks 23rd, Kentucky 34th, Michigan 12th and Ohio 45th.
The Tax Foundation is the nation’s leading independent tax policy research organization, and focuses on principled research and insightful analysis to inform tax policy at the federal, state, and local levels.
More information on the Tax Foundation and the State Business Tax Climate Index can be found at http://taxfoundation.org/article/2017-state-business-tax-climate-index.
For a photo of Sen. Hershman, click here.
Contact: Molly Swigart, Press Secretary