Lower Income Taxes for Hoosier Families

0 CommentsBy

IndyCOW1-30

  • Indiana has one of the lowest individual income tax rates in the Midwest at 3.4 percent of adjusted gross income.  This low tax rate has kept costs of living much lower than bordering states.
  • This rate is expected to drop to 3.23 percent by 2017.  Indiana’s ability to cut income taxes is due to the state’s improved fiscal management. The 2011 temporary increase in Illinois from 3.0 percent to 5.0 percent is expected to be made permanent by the state assembly this year as the Prairie State continues to grapple with its underfunded pensions.

Leave a Reply

Your email address will not be published. Required fields are marked *