Exempt from State Tax Hint: Additional State Withholding Hint: First-time Claimed Additional Dependent Exemptions Hint: Adoption Exemptions Hint: Dependent Exemptions Hint: Personal Exemptions Hint: Indiana County of Principal Employment as of January 1 Hint: Most Recent Withholding Amount Hint: ...
Indiana is an AGI state, which simply means that the state uses the figures from the federal form to calculate income. This means that any federal exemptions or itemized deductions on the second page of the federal tax form are not considered part of your income. Since the IRA deduction or ...
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.[179] In some jurisdictions, an additional Food and Beverage Tax is ch...
You must file an income tax return for Indiana if you live in the state year 'round and the total amount of your income exceeds your exemptions. The second is if you live out of state, but work in Indiana or receive income from Indiana. You do need to file to receive any refund you...
Reports on the revision of Indiana's income tax code due to a budget surplus as of January 17, 2000. Changes of the tax credits, deductions and exemptions; Advice for the early preparation of tax retu...
Muncie-Delaware County does have a modest local income tax amounting to 1.5 percent. This pertains to employee wages and is not a tax on corporations. Individual Income Tax Indiana’s personal income tax is 3.23 percent of federal adjusted gross income (with certain exemptions and deductions). ...
Additional sales taxes may be imposed onbusinesses that sell food and beverages. At the local level, however, additional taxes are not required. This makes tax collection straightforward as compared to other states, where there can be a great deal of local variation. Exemptions are minimal, with...
you’ll likely need to register with the Indiana Department of Revenue. You’ll also need to be registered with the Department of Revenue if your nonprofit ever decides to request sales tax exemptions for individual fund-raising activities. Simply file the Indiana Business Tax Application (form BT...
Some exemptions apply. The Indiana Department of Revenue provides a detailed breakdown of a business’s obligations regarding sales tax. What is Indiana’s corporate tax rate? Indiana taxes corporations at a rate of 4.9%. This rate does not apply to LLCs or sole proprietorships, which pass ...
Some states offer bankruptcy exemptions, which protect assets up to a certain amount from being liquidated during bankruptcy. In Indiana, these exemptions include: Homestead:$19,300 Wildcard:$10,250 (can be used on anything you want to protect that doesn’t already have an exemption) ...