Cost of Doing Business
The cost of doing business in Evansville, Indiana is quite competitive and we'd enjoy the opportunity to prove it! See what real companies, like SS&C Technologies are saying about the low costs and ease of doing business in Evansville.
“The competitive cost of doing business, the ability to recruit and retain talent from local and regional universities and the great working relationships we have forged with the local and state governments are some of the reasons why SS&C selected and continues to grow in Evansville," said Bill Stone, Chairman and Chief Executive Officer, SS&C Technologies.
State of Indiana
- Right-to-work state as of February, 2012
- Ranked Best Place for Business in the Midwest
- 5th best place to do business in the nation
- 11th lowest electric utility costs
- 2nd lowest worker comp rates in the U.S.
- No Inventory Tax
- No Sales tax on manufacturing equipment
ADDITIONAL FACTS & RANKINGS FOR THE STATE OF INDIANA.
TOP TAX CLIMATE
Indiana ranks 1st in the Midwest and 8th nationally in the Tax Foundation’s 2015 State Business Tax Climate Index (Oct. 2014).
CORPORATE INCOME TAX REDUCTION
Indiana’s corporate income tax rate is steadily decreasing from the current 7% to 4.9% by 2021. The tax rate will continue to drop each year as the decrease is phased-in.
- Source: www.IEDC.IN.gov
Average Pay by Selected Industry - Average Yearly Salary
|Business and Financial Operations Occupations||$58,060|
|Computer and Mathematical Occupations||$64,390|
|Construction and Extraction Occupations||$50,870|
|Healthcare Practitioners and Technical Occupations||$64,860|
|--Family and General Practitioners||$121,460|
|--First-Line Supervisors of Production and Operating Workers||$58,840|
|--Multiple Machine Tool Setters, Operators and Tenders, Metal and Plastic||$37,550|
|Transportation and Material Moving Occupations||$31,860|
|--Heavy and Tractor-Trailer Truck Drivers||$38,540|
|--Light Truck or Delivery Truck Drivers||$29,020|
Evansville Tax Structure
|Personal Income Tax|
|Vanderburgh County Resident||1%|
|Vanderburgh County Non-Resident||0.25%|
|Corporate Adjusted Gross Income Tax|
|Sales and Use Tax|
|Sales and Use Tax||7.00%|
|Real & Personal Property / Per $100 AV|
|Median Tax Rate||$2.12|
|Range by Taxing Districts||$1.7337-2.880|
|Electricity (Industrial Avg.)||$.0715/kWh|
|New Employer Rate||2.50%|
|Taxable Wage Base||$7,000|
|Percentage rates may be lowered after 36 months of compliance, or raised due to non-compliance. $7,000 is the maximum taxable amount per employee.|
|Workers’ Compensation (per $100 of payroll)|
|Average Rate for Manufacturing||$2.19|
|Average Rate for Office||$0.28|
|All Classes Average||$1.37|