From the Lafayette Journal & Courier:
Indiana ranks 22nd highest for state-local tax burden in the country, according to the nonpartisan Tax Foundation.
The report released today, based on data from the 2011 fiscal year, shows Indiana taxpayers paid 9.5 percent of their incomes in state and local taxes with a per-capita burden of $3,385 on a per-capita income of $35,592.
The national average was 9.8 percent. New York, New Jersey and Connecticut had the highest state-local tax burdens as a share of income in the nation. Wyoming, Alaska and South Dakota had the lowest.
“States have different tax burdens, just as they have different levels of services,” said Tax Foundation economist Liz Malm in a prepared statement. “For Americans to make informed judgments about benefits and costs of state-local government, the costs need to be known.”
The data was collected before the Republican-led General Assembly passed one of the largest tax cuts in Indiana’s history in 2013, a $1.1 billion, multiyear giveback involving cuts in the corporate, financial institution and personal income tax rates and a repeal of the inheritance tax.
The General Assembly voted this year to further reduce the corporate income tax and to give counties more options to cut business taxes, including exempting new business equipment from property taxes.
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http://www.jconline.com/apps/pbcs.dll/article?AID=2014304020021
