WASHINGTON — The Hoosier State is earning praise for its tax system.
The Tax Foundation’s 2022 State Business Tax Climate Index ranks Indiana ninth in the nation for its overall tax climate and No. 1 in the Midwest, according to Inside Indiana Business.
The Tax Foundation says its annual index allows business leaders, government officials, and taxpayers to see how well their state’s tax system is structured and provides a roadmap for improvement. States are ranked based on several categories, including corporate tax, individual income tax, property tax, sales tax, and unemployment insurance tax.
Indiana maintained the No. 9 ranking it held in the 2021 index. The Hoosier State was ranked first in property taxes, 11th in corporate taxes, 15th in individual taxes, 19th in sales taxes, and 25th in unemployment insurance taxes.
The top states in the 2022 index were Wyoming, South Dakota, Alaska, Florida, and Montana. At the bottom of the rankings were Connecticut, California, Washington, D.C., and New York, with New Jersey at No. 50.