Indiana has made notable strides in improving its tax climate in recent years. In 2011, the state started a phase down of its corporate tax rate from an uncompetitive 8.5% to what will in 2021 be the third lowest corporate rate in the country, 4.9%. In 2013, Governor Mike Pence and Senate Finance Committee Chair Brandt Hershman worked together on speeding up the repeal of the state’s inheritance tax and lowering the state’s already competitive individual income tax from 3.4% to 3.23% by 2017.
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