Kentucky has recently enacted wide-spread reforms to tax code policy. Designed to stimulate investment and business growth across the state, the changes are rapidly making Kentucky more competitive. Reforms include the repeal of the corporate license tax and the intangible property tax, as well as a reduction in the corporate income tax rate from 8.25 percent to the current 6%. Personal income taxes have also been reduced to a range of 2-6%.
Indiana ranks 8th in Tax Foundation’s 2015 Business Tax Climate Index. The cost of doing business in Indiana is very favorable, due in part to having one of the best workers’ compensation rates and unemployment tax rates. Due to legislation passed this year, corporate tax for Indiana is set to drop from 7% to 4.9% by 2021.