South Central Indiana USA
The Place to Grow Your Business
Cost of Doing Business in South Central Indiana
Business Taxes |
Indiana |
Illinois |
Kentucky |
|
Corporate State Income Tax |
|
|
|
Due Per Net Taxable Income of
$1,000,000 |
$85,000 |
$73,000 |
$77,625 |
|
Other Business Costs |
|
|
|
Estimated Payroll Based on 100
Employees (Avg. Annual Wage)
(January 2001) |
$3,815,600 |
$4,534,300 |
$3,599,600 |
|
|
|
|
Average Mfg. Workers' Compensation
Annual Tax Based on 100
Employees (September 2002) |
$71,733 |
$165,502 |
$145,784 |
|
|
|
|
Average Unemployment Insurance
Based on 100 Employees
(August 2002) |
$15,400 |
$36,300 |
$20,000 |
|
Total State Business Taxes |
|
|
|
Including Corporate State Income
Tax, Workers' Compensation and
Unemployment Insurance |
$172,133 |
$274,802 |
$243,409 |
|
Other State Data |
|
|
|
Average Annual Wage, 2001
(Private Industry) |
$38,156 |
$45,343 |
$35,996 |
|
|
|
|
Average Price of Electricity,
Industrial Sector - cents/kWh |
4.0 |
4.9 |
3.2 |
|
|
|
|
Average Annual Unemployment |
5.1% |
6.7% |
6.2% |
Business Taxes |
Michigan |
Ohio |
Tennessee |
|
Corporate State Income Tax |
|
|
|
Due Per Net Taxable Income of
$1,000,000 (2005) |
$71,213 |
$83,800 |
$65,000 |
|
Other Business Costs |
|
|
|
Estimated Payroll Based on 100
Employees (Avg. Annual Wage)
(January 2001) |
$4,612,100 |
$3,883,100 |
$3,894,000 |
|
|
|
|
Average Mfg. Workers' Compensation
Annual Tax Based on 100
Employees (September 2002) |
$197,398 |
$155,324 |
$166,274 |
|
|
|
|
Average Unemployment Insurance
Based on 100 Employees
(August 2002) |
$34,200 |
$18,000 |
$19,600 |
|
Total State Business Taxes |
|
|
|
Including Corporate State Income
Tax, Workers' Compensation and
Unemployment Insurance |
$302,811 |
$257,124 |
$250,874 |
|
Other State Data |
|
|
|
Average Annual Wage, 2001
(Private Industry) |
$46,121 |
$38,831 |
$38,940 |
|
|
|
|
Average Price of Electricity,
Industrial Sector - cents/kWh |
4.7 |
4.7 |
4.3 |
|
|
|
|
Average Annual Unemployment, 2001 |
7.3% |
6.1% |
5.8% |
Source: Indiana Economic Development Corporation |