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South Central Indiana USA
The Place to Grow Your Business

Cost of Doing Business in South Central Indiana

Business Taxes
Indiana
Illinois
Kentucky
Corporate State Income Tax
Due Per Net Taxable Income of
$1,000,000
$85,000
$73,000
$77,625
Other Business Costs
Estimated Payroll Based on 100
Employees (Avg. Annual Wage)
(January 2001)
$3,815,600
$4,534,300
$3,599,600
Average Mfg. Workers’ Compensation
Annual Tax Based on 100
Employees (September 2002)
$71,733
$165,502
$145,784
Average Unemployment Insurance
Based on 100 Employees
(August 2002)
$15,400
$36,300
$20,000
Total State Business Taxes
Including Corporate State Income
Tax, Workers’ Compensation and
Unemployment Insurance
$172,133
$274,802
$243,409
Other State Data
Average Annual Wage, 2001
(Private Industry)
$38,156
$45,343
$35,996
Average Price of Electricity,
Industrial Sector – cents/kWh
4.0
4.9
3.2
Average Annual Unemployment
5.1%
6.7%
6.2%
Business Taxes
Michigan
Ohio
Tennessee
Corporate State Income Tax
Due Per Net Taxable Income of
$1,000,000 (2005)
$71,213
$83,800
$65,000
Other Business Costs
Estimated Payroll Based on 100
Employees (Avg. Annual Wage)
(January 2001)
$4,612,100
$3,883,100
$3,894,000
Average Mfg. Workers’ Compensation
Annual Tax Based on 100
Employees (September 2002)
$197,398
$155,324
$166,274
Average Unemployment Insurance
Based on 100 Employees
(August 2002)
$34,200
$18,000
$19,600
Total State Business Taxes
Including Corporate State Income
Tax, Workers’ Compensation and
Unemployment Insurance
$302,811
$257,124
$250,874
Other State Data
Average Annual Wage, 2001
(Private Industry)
$46,121
$38,831
$38,940
Average Price of Electricity,
Industrial Sector – cents/kWh
4.7
4.7
4.3
Average Annual Unemployment, 2001
7.3%
6.1%
5.8%

Source: Indiana Economic Development Corporation