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2007 sources of Indiana's revenue. Taxes in Indiana are almost entirely authorized at the state level, although the revenue is used to fund both local and state level government. The state of Indiana's income comes from four primary tax areas. Most state level income is from a sales tax of 7% and a flat state income tax of 3.05%. The state also ...
Exempt Exempt from general sales tax Exempt < $50 Purchases under $50 exempt, higher taxed Taxed Subject to general sales tax 7% (higher) Taxed at a higher rate than the general rate 3% (lower) Taxed at a lower rate than the general rate 3%+ Some locations tax more Up to 3% Some locations tax less N/A No statewide general sales tax
Tax is collected by the Indiana Department of Revenue. [198] Indiana has a flat state income tax rate of 3.23%. Many of the state's counties also collect income tax. The state sales tax rate is 7% with exemptions for food, prescription medications and over-the-counter medications. [199]
Indiana sales tax exemption: In Indiana, many of the components of a solar energy system are free from sales tax, including solar modules, ...
Tax exemption is the reduction or removal of a liability to make a compulsory payment that would otherwise be imposed by a ruling power upon persons, property, income, or transactions. Tax-exempt status may provide complete relief from taxes, reduced rates, or tax on only a portion of items.
A state law — House Bill 1034 — is in effect and, according to a news release from the Indiana National Guard, the tax exemption applies to the traditional weekend Hoosier Guardsmen, the dual ...