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In 2014, the Indiana state legislature passed a law that cut the corporate income tax from 8.50% in 2014 to 6.25% in 2016, with further decreases to be phased in until the rate falls to 4.9% in 2022. [5] Indiana is the only state that imposes corporate income taxes based on fiscal year instead of calendar year.
Income tax rate for the state of Indiana is 3.15% — Second-lowest (behind Ohio) in the IMOK (i.e., Illinois, Michigan, Ohio, Kentucky) border states quartet. All Indiana counties have a local ...
The filing deadline for most 2023 federal and state of Indiana income tax returns is April 15, 2024.
Corporate income tax as a share of GDP, 1946–2009. Corporate income tax is imposed at the federal level [2] on all entities treated as corporations (see Entity classification below), and by 47 states and the District of Columbia. Certain localities also impose corporate income tax.
The council also has limited authority to impose local taxes, usually in the form of an income tax that is subject to state-level approval, excise taxes, or service taxes, like those on dining or lodging. [4] [5] Board of commissioners: The executive body consists of three commissioners. The commissioners are elected county-wide, and serve four ...
Monday is tax day. If you haven't already submitted your documents to the IRS and the Indiana Department of Revenue, here's what you need to know. Taxes are due Monday.
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