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A new tax study from the Indiana Chamber Foundation reveals that the state stands out for its relatively high reliance on individual income and sales taxes, while it maintains a competitive effective business tax rate. The report also identifies challenges in sectors like manufacturing and life sciences, where property and personal property taxes drive up the effective tax rates.
Despite these hurdles, Indiana’s overall tax burden remains lower than the U.S. average, making it an attractive environment for business and economic growth.
The research, “Indiana’s Tax System: A Comparative Analysis,” examines Indiana’s state and local tax structure in comparison to neighboring and competitive states, providing critical data to inform the state Legislature’s ongoing tax review and potential reforms. It represents phase one of the Indiana Chamber’s highly anticipated two-phase tax study, conducted by Ernst & Young LLP.
"Our state’s tax climate is the result of sustained efforts over decades to build a strong, business-friendly environment,” says Vanessa Green Sinders, president and CEO of the Indiana Chamber of Commerce. “Indiana is well-positioned among our peers to attract capital investment and support long-term economic growth. The data from phase one of this study highlights key opportunities for improvement, which will help us gain a competitive edge moving forward.”
Specific key findings from the study include those around tax burden, business tax competitiveness, business share of taxes and competitiveness for key industries.
Indiana has consistently had a lower tax burden compared to the U.S. average from FY12 to FY22. In FY22, Indiana’s state and local tax revenue per capita was $5,618 compared to $7,097 nationally. Indiana’s combined state and local tax burden is 9.6% of personal income, which is lower than the 10.8% U.S. average and is in the middle of the benchmark states.
Businesses pay 38% of state and local taxes in Indiana, which is the third lowest among peer states. Businesses pay a higher share of property taxes in Indiana than the benchmark state average.
Indiana has higher effective tax rates in capital-intensive industries such as manufacturing and life sciences due to the taxation of personal property, which drives high effective property tax rates. For example, manufacturing is a capital-intensive industry, and Indiana’s high taxation of both real and personal property results in the 4.9% property tax effective rate, more than double the benchmark state average, with personal property tax accounting for 2.5 percentage points of the total effective rate.
"Indiana ranks fifth lowest among benchmark states for total effective business tax rate at 3.8%, well below the U.S. average of 5.0%," offers the Indiana Chamber’s David Ober, senior vice president of business operations and finance. "We are well-positioned as a leader in overall business tax competitiveness. However, when you focus on specific industries for which Indiana is known, such as manufacturing and life sciences, the data shows opportunities for improvement. By addressing these areas, we can further sharpen our competitive advantage and continue to drive economic growth."
Adds Sinders, “This study marks the first step in a larger effort. As we move forward, we will meet with key lawmakers, administration officials and local leaders across Indiana to ensure that the findings from phase one are used to drive policy decisions. Our goal is to work collaboratively to shape policies that strengthen Indiana’s economic foundation and keep us ahead in the competitive landscape.”
Phase two of the tax study will delve deeper into opportunities for tax reform and provide detailed recommendations on how Indiana can refine its tax system to boost business investment, economic growth and quality of life for all Hoosiers.
The tax study was informed by consultations with the Indiana Chamber Tax Research Advisory Committee, comprised of representatives from key business sectors, tax policy experts, consultants, relevant state agencies and economic development professionals.
Lead investors in the two-phase tax project are Ambassador Enterprises and AES Indiana. Other key contributors are Maple Leaf Farms, bp America, dormakaba Americas, Cleveland-Cliffs Inc., Al & Kathy Hubbard, OneMain Financial and CountryMark.
View the full Indiana Chamber Foundation study at www.indianachamber.com/tax.
On Thursday, August 15th, Temple & Temple Excavating and Paving, Inc. joined Governor Eric J. Holcomb and Indiana Secretary of Commerce David Rosenberg in Indianapolis to celebrate the company as a recipient of the Governor’s Half Century Business Award. This award recognizes Temple & Temple’s longevity and lasting impact on the state’s economy, communities, and people.
Ken Temple, President & CEO of Temple & Temple, leads the company with a deep appreciation for the foundation laid by Howard and Walter Temple in 1948.
"To see what the generations before me were able to accomplish has created a strong foundation for the company to thrive today," said Temple. "The recognition by the Governor and Indiana Secretary of Commerce would mean a lot to my father, one of the company’s founders."
Since joining the company after earning his degree in engineering, Ken Temple has been instrumental in upholding and expanding the business. He credits his father, Walter Temple, for business lessons that stressed the importance of long-term investments in the company, its people, and the community.
“Being in a position to give back to my community is what drives me,” Temple said. “My priority is to create lasting relationships that not only benefit the business, but also the communities we serve.”
Temple & Temple is one of forty-eight Hoosier businesses recognized by Governor Holcomb and Secretary Rosenberg this year. The program has honored over 1,250 businesses throughout its 33-year history for their exemplary commitment to our state and their communities. One community Temple & Temple has been proud to serve through its philanthropic efforts is the Town of New Pekin.
“Temple & Temple Excavating and Paving has always been the biggest supporter of the Town of New Pekin," said New Pekin Town Manager Jaden Stone. “They always assist with our projects for the community, most recently with a complete renovation of our Basketball Court at the Community Park and the Washington County Family YMCA’s planned expansion.”
After 76 years, the company and the communities it serves have never been stronger.
Temple & Temple plans to continue its focus on providing long-standing, quality infrastructure while expanding its offerings to meet the housing needs of Southern Indiana.
1. A local consumer reported an auction scam to BBB, in which victims who “won” were asked to wire money to receive their items. BBB advises consumers to research auction companies and auctioneers before participating, find out how payments are made, and check the seller’s contact information first.
2. A local consumer reported a scam Facebook ad that was using a legitimate business’s logo. The ad claimed to be for Sam Ash Music and was promoting a liquidation sale. The real company alerted consumers to this scam. BBB reminds consumers to be very careful of ads on social media and other third-party sites. When in doubt, visit a company’s website directly.
3. A local consumer reported an employment scam to BBB for a fake pharmacy position. BBB warns consumers to be wary of any interview processes that require you to download specific apps, ask for money upfront, and/or provide your personal or banking details upfront.
4. BBB has seen an uptick in reports of scam ads on Facebook Marketplace. BBB advises consumers to avoid any online deals that appear too good to be true, never give out personal information for a Facebook Marketplace transaction, and always pay with a credit card or other secure form of payment.
5. A local consumer reported a scam debt collection call to BBB. Don’t fall for any high-pressure debt collection calls, especially ones that threaten you with arrest or other legal measures. Always verify a debt is legitimate before agreeing to pay.
6. A local consumer was a victim of a romance scam, which occurred during a vulnerable period in her life (she had just lost her son to cancer). BBB warns consumers that romance scammers tend to prey on people who are vulnerable. Never give out personal information to anyone you haven’t met in person, and do not agree to send gifts or money to someone you haven’t met in person.
7. A local consumer reported scam phone calls claiming to raise money for firefighters. BBB reminds consumers to always verify a charity first before donating. You can do so at Give.org.
8. A local consumer reported an Amazon hacked account scam to BBB. The consumer was informed his account was hacked and instructed to provide his banking account information. Luckily the consumer did not fall for this scam! The real Amazon will not contact you by phone over an alleged hack, and they will not ask for your financial information over the phone.
9. BBB warns of QR code scams where the QR codes lead to phishing websites, fraudulent payment portals, and downloads that contain malware. If you receive a QR code from a friend via a text or social media message, confirm with that person that they have not been hacked. Do not open links from strangers, and check for tampering (some scammers will place stickers over legitimate QR codes on ads).
10. BBB is receiving more reports of puppy scams involving Facebook groups and/or accounts claiming to sell purebred pups. However, victims never receive the animals and are typically scammed out of hundreds of dollars. BBB reminds consumers to always see an animal in person before purchasing, and to check a breeder’s rating and credentials.
Hoosier companies are encouraged to “unveil” what makes them a great employer with the Indiana Chamber of Commerce opening up nominations for its annual Best Places to Work in Indiana competition.
The awards program – in its 20th year and themed “Unveiling Excellence” – honors top organizations in the state as determined through employer reports and comprehensive employee surveys. Company evaluations and the selection process are administered by Workforce Research Group.
“The Best Places to Work in Indiana program is an ideal way to showcase the many great companies we have here in the Hoosier state and what they do to make the lives of their workers and communities in which they live and work that much better,” says Indiana Chamber President and CEO Vanessa Green Sinders. “I find the creative and innovative ways these companies draw and retain talent and improve the lives of not just their employees, but those of their families as well, truly inspiring.
“Participating in this annual competition has real value for the companies involved. It’s an excellent way to attract top talent, enhance employee pride and ownership in your organization and impress clients.”
To take part, employers complete a questionnaire and fill out an anonymous engagement and satisfaction survey. All companies that apply will receive a thorough report analyzing strengths and opportunities for improvement in their workplace culture.
Winners are chosen in four groups: small companies of between 15 and 74 U.S. employees; medium companies of between 75 and 249 U.S. employees; large companies of between 250 and 999 U.S. employees; and major companies with 1,000 or more U.S. employees.
The application deadline is Friday, November 22. To apply, visit www.bestplacestoworkindiana.com.
The selected companies will be honored on Wednesday, April 30, 2025, at the Best Places to Work awards dinner, which in keeping with the theme will be a masquerade, at the JW Marriott in downtown Indianapolis.
Winners will also be recognized via a special supplement to the Indiana Chamber’s award-winning BizVoice® magazine and through Inside INdiana Business – both of which reach statewide audiences.
Program partners with the Indiana Chamber are Workforce Research Group, HR Indiana SHRM, Institute for Workforce Excellence, Wellness Council of Indiana, BizVoice® and Inside INdiana Business, A division of IBJ Media.
First Merchants Bank and True Rx Health Strategists are the Best Places to Work in Indiana dinner gold sponsors. The silver sponsors are LHD Benefit Advisors and TrueScripts; and visibility sponsors are Busey Bank, Harrah’s Hoosier Park, Indiana Members Credit Union and Reis-Nichols Jewelers.
Additional sponsorships are available by contacting Tim Brewer at
Top Best Places to Work in Indiana winners for 2024 in the small, medium, large and major categories were, respectively: JA Benefits, a Bedford-based insurance and employee benefits company; TrueScripts, a prescription benefit management service in Washington; Harrah’s Hoosier Park Racing and Casino, a casino and racing park in Anderson; and ARCO Design/Build, a national design/build construction firm with a location in Indianapolis.
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The following individuals were arrested recently by local law enforcement agencies. Those listed, in most cases, are just facing charges at this point, and are to be considered innocent of those charges unless and until proven guilty in a court of law. Charges are often dropped or lessened. Mugshots are collected from local law enforcement agencies on Mondays and are public records.
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