Come home to Highland!
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.
COST OF DOING BUSINESS: TAXES
HIGHLAND & INDIANA TAXES
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
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
Town Municipal Building
3333 Ridge Road
Highland, IN 46322
Director of Development
(219) 972-7598 office
(219) 972-5097 fax