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Property Tax
Real and personal property is assessed at 33 1/3 percent of true cash value. Property tax rates vary among local jurisdictions. Unincorporated and township tax rates range from 4.67% to 12.0035% in Johnson County. For the lates report on Indiana property taxes in PDF format, click here.
Tangible Personal Property Tax
All equipment, which includes manufacturing and office, is depreciated by set percentage schedules. Indiana uses the Federal Depreciating Schedule to determine the True Tax Value of Equipment. Most manufacturing equipment in Indiana falls under Federal Pool #2.
Though manufacturing equipment is depreciated quickly in Indiana, its true tax value can never fall to below 30% of its cost. Special valuation procedures apply to special tooling (molds, patterns, and dies), property not placed in service, and air and water pollution control equipment.
Personal Income Tax
State Income Tax is 3.4%, plus county optional income tax with a maximum of 1%.
Sales Tax
State sales tax is 6% on all retail sales -food products are exempt.
Employment Taxes
The overall cost of doing business is lower in Johnson County and Indiana in general than in the surrounding Midwest states. The state’s pro-business attitude, conservative fiscal management, reasonable tax rates, low unemployment insurance and workers compensation rates make Indiana an excellent location for all types of businesses.
For Business costs, click here.
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Contact JCDC today for any assistance.
2927 N. Morton, Suite E
Franklin IN 46131
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TEL:317-736-4300
FAX:317-736-7220
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