Hammond Logistics Warehouse

IN vs IL

Doing Business in Indiana

Business Cost Comparison

Taxes & Factors

IN

IL

Corporate Income Tax Rate (a)

4.9% *

7.75%

State Apportionment of Corporate Income

Single Sales Factor

Single Sales Factor

Individual Income Tax Rate (a)

3.23%

3.75%

Local Average Individual Income

Tax Rate (b)

1.56%

None

Local Average & Sales Tax Rate

7.00%

8.64%

Unemployment Insurance Tax Rate times State Wage Base

$237.50

$447.12

Workers’ Compensation Premium Rate Index (Per $100 of payroll)

$1.05

$2.23

Mean Hourly Wage

$21.21

$27.07

Cost of Living Index

99.1

112.1

Right To Work

YES

No
  1. The corporate income tax rate and individual income tax rate decreases are effective July 1 of each year noted.
  2. The effective local income tax rate is calculated by taking the mean of the income tax rate in the most populous city and the capital city.

 

Indiana Rankings

FIRST Nationally for Cost of Doing Business FIRST Nationally for Infrastructure

FIRST Nationally for Best Regulatory Environment FIRST in the Midwest for Low Taxes, 8th Nationally SECOND Nationally for Availability of Skilled Labor

SECOND Forbes Best States for Business & Careers Regulatory Environment

AAA Bond Rating

Tax  Rates Decreasing

Corporate Income Tax 6.0% reducing to 4.9% Indiana’s corporate income tax rate is decreasing from 6.0% in 2017 to 4.9% by 2021.

July 2017  - 6.0%

July 2018  - 5.75%

July 2019  - 5.5%

July 2020  - 5.25%

*Effective July 1st 2021  - 4.9%

 

Single Sales Factor Apportionment - The Indiana portion of a corporation’s tax liability is based solely on the portion of the company’s sales in Indiana.

 

Individual Income Tax          3.3% to 3.23% in 2017 Individual income tax rate decreased from 3.3% to 3.23% in 2017 and beyond.

 

 

Manufacturing/Logistics

  • Indiana has about 8,500 manufacturing establishments.
  • Manufacturing employs one in every five Hoosiers.
  • With a GDP of $15.B, Indiana’s motor vehicle manufacturing industry is the 2nd highest in the US.
  • Indiana has received straight A’s in manufacturing, tax climate, and global reach since 2008, in the nationwide Manufacturing + Logistics Report.

 

Hammond is the 5th largest city in the State of Indiana and is located at the very Northwestern corner of the state. Hammond is part of the greater Chicago metropolitan area

Driving Distances

.5 miles to I-90 interchange 16 miles to I-65 interchange

6 mile to Chicago South Business District

9 miles to I-80/94 I-57 interchanges

15 miles to Chicago Loop and 20 miles to Chicago Midway Airport

 

  • Right-to-work state
  • Lower Workman’s Compensation and Unemployment Insurance compared to Illinois.
  • Property taxes significantly lower than most South Cook County municipalities.