Indiana Department Of Revenue, Indiana Tax

Indiana Business Corporate Tax, Indiana Personal Income Tax, Indiana Sales Tax Rates

What is the Indiana corporate net income tax rate?

8.5%

What is the Indiana personal net income tax rate?

3.4%

There are also a lot of local income taxes with a average rate of 1.16%.

What is the average Indiana sales tax rate?

Are there standard deductions?

Single: none
Joint: none

Are there personal exemptions?

Single: $1,000
Dependents: $2,500

What forms do you file for your Indiana taxes?

C corporations: Form IN-20
S corporations: Form IN-20S composite must be filed for all non-residents… not personally
Partnerships: Form IN-65 and K1
Individual: Form IN-40

Estimated tax payments?

Form IN-6 for corps with minimum tax due of over $2500. Indiana follows the IRS standards for estimated payments. If you will owe $1000 or more in tax for the current year, you are required to make 90% of the tax due, over quarterly payments. It has to be at least 100% of the previous year, even if you think you won’t make as much in the current year.