{"id":2335965,"date":"2024-09-03T07:24:01","date_gmt":"2024-09-03T11:24:01","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/low-taxes-makes-indiana-a-cheaper-place-to-start-a-business-washington-examiner\/"},"modified":"2024-09-03T07:27:40","modified_gmt":"2024-09-03T11:27:40","slug":"low-taxes-makes-indiana-a-cheaper-place-to-start-a-business-washington-examiner","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/low-taxes-makes-indiana-a-cheaper-place-to-start-a-business-washington-examiner\/","title":{"rendered":"Low taxes makes Indiana a cheaper place to start a business &#8211; Washington Examiner"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">28<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Flow-taxes-makes-indiana-a-cheaper-place-to-start-a-business-washington-examiner%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2335965&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>A recent study by Zibtek highlights that Indiana is one\u2064 of the more\u2064 affordable \u200cstates for starting a business. The study evaluated various factors, including taxes, utility \u2063costs, filing\u200d fees, and personal expenses, ultimately ranking Indiana 38th overall or the \u200d13th least expensive state. The state performed best in terms of average monthly electric\u2063 rates, which are around 4% lower than \u2064the national average. However, Indiana&#8217;s \u2063income and \u200bcorporate tax rates received the lowest scores, placing it 40th and 37th respectively. the findings suggest that while Indiana offers reasonable utility costs,\u200b its\u200d tax structure is less\u2062 favorable for both individuals and corporations.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<p><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><\/p>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-mobile-menu-button\"><i class=\"tdb-mobile-menu-icon td-icon-mobile\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-header-search-button-mob dropdown-toggle\" data-toggle=\"dropdown\"><i class=\"tdb-mobile-search-icon td-icon-search\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-mobile-menu-button\"><i class=\"tdb-mobile-menu-icon td-icon-mobile\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<div class=\"tdb-drop-down-search\" aria-labelledby=\"td-header-search-button\">\n<div class=\"tdb-drop-down-search-inner\">\n<form method=\"get\" class=\"tdb-search-form\" action=\"https:\/\/www.washingtonexaminer.com\/\"><\/form>\n<div class=\"tdb-aj-search\"><\/div>\n<\/div>\n<\/div>\n<p><a href=\"http:\/\/www.washingtonexaminer.com\/#\" role=\"button\" aria-label=\"Search\" class=\"tdb-head-search-btn dropdown-toggle\" data-toggle=\"dropdown\"><i class=\"tdb-search-icon td-icon-search\"><\/i><\/a><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<h1 class=\"tdb-title-text\">Low taxes makes Indiana a cheaper place to start a business<\/h1>\n<div><\/div>\n<div class=\"tdb-title-line\"><\/div>\n<\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<div id=\"Brid_1744347\" class=\"tpd-featured-video bridtv\"><\/div>\n<p>(The Center Square) &ndash; Starting a business in Indiana is less expensive than it is in most other states. That&rsquo;s according to a recent study by Zibtek, a software development consultancy business.&nbsp;<\/p>\n<div class=\"article-paywall\">\n<p>The study scored the states on factors such as taxes, utility costs, filing fees, the local economy, online crime and personal expenses. After compiling the scores, Indiana finished 38th overall, or the 13th least-expensive state in the study.<\/p>\n<p>The Hoosier State ranked no higher than 23rd in any of the nine categories. The highest ranking came in the average monthly electric bill. According to&nbsp;<a href=\"http:\/\/energybot.com\/\">Energybot.com<\/a>, Hoosier businesses paid on average 12.57 cents per kilowatt-hour for power this month. That was 4% lower than the national average.<\/p>\n<p>Indiana ranked 24th for losses incurred to internet crime and 25th for sales tax. According to the Tax Foundation, the state&rsquo;s 7% sales tax was the 25th highest out of the 46 that apply such a levy.<\/p>\n<p>Income taxes gave Indiana its lowest scores. The state came in 40th for <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/how-states-can-lead-america-back-towards-lower-taxes-and-less-government\/\" title=\"How States Can Lead America Back Towards Lower Taxes And Less Government\">personal income tax<\/a> and 37th for its corporate tax. This year, Hoosiers will pay a 3.05% tax on their income, while businesses will pay a 4.9% tax.<\/p>\n<p>&ldquo;States with low or no income tax can attract both business owners and employees by <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/imf-rebukes-britain-for-cutting-taxes-conservative-lawmakers-fire-back\/\" title=\"IMF Rebukes Britain For Cutting Taxes. Conservative Lawmakers Fire Back.\">increasing disposable income<\/a>, potentially boosting consumer spending,&rdquo; the company said in a statement to The Center Square. &ldquo;Favorable corporate tax rates allow businesses to reinvest more earnings into growth or distribute them to shareholders, while <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/stimulus-update-direct-minnesota-payments-worth-up-to-1300-to-finish-sending-in-three-days\/\" title=\"Minnesota stimulus payments of up to ,300 will be sent out within three days.\">reduced property taxes<\/a> and <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/kentucky-among-the-least-expensive-states-to-start-a-business-washington-examiner\/\" title=\"Kentucky among the least expensive states to start a business - Washington Examiner\">lower monthly electric bills improve cash flow<\/a> and margins, especially for <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/psaki-white-house-expects-gas-prices-will-continue-to-rise\/\" title=\"Psaki: White House Expects Gas Prices Will Continue to Rise\">energy-intensive industries<\/a>.&rdquo;<\/p>\n<p>Compared to its neighbors, Indiana was more expensive than Kentucky (45th) and Ohio (47th) to start a business, but it was far cheaper to start one there than it was in Illinois (fifth) or Michigan (17th).<\/p>\n<p>California, New Jersey, Massachusetts and New York joined Illinois as the five most expensive states for startups, according to the study. Wyoming was the least expensive state, followed by South Dakota, Nevada, Ohio and Texas.<\/p>\n<p>According to the U.S. Census Bureau, there were 93,199 businesses established in Indiana in 2023, an increase of 12.1% from the previous year. More than a quarter of those, 24,674, started in Marion County. Lake County, in the northwestern corner of the state, had 7,233 new businesses last year, and 6,736 were created in Hamilton County.<\/p>\n<\/div>\n<p> <script data-cfasync=\"false\" src=\"http:\/\/www.washingtonexaminer.com\/cdn-cgi\/scripts\/5c5dd728\/cloudflare-static\/email-decode.min.js\"><\/script><script>!function(){var g=window;g.googletag=g.googletag||{},g.googletag.cmd=g.googletag.cmd||[],g.googletag.cmd.push(function(){g.googletag.pubads().setTargeting(\"has-featured-video\",\"true\")})}();<\/script><script>var _bp=_bp||[];_bp.push({\"div\":\"Brid_1744347\",\"obj\":{\"id\":\"27789\",\"width\":\"1280\",\"height\":\"720\",\"stickyDirection\":\"below\",\"video\":\"1744347\"}});<\/script><script defer src=\"https:\/\/services.brid.tv\/player\/build\/brid.min.js\"><\/script><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Low taxes make Indiana an affordable state for launching a business (The Center Square) \u2013 According to a recent study by Zibtek, a software development consultancy, starting a business in Indiana is more cost-effective than in many other states. The study evaluated states based on various factors including taxes, utility expenses, filing fees, the local economy, online crime rates, and personal costs. After analyzing these factors, Indiana ranked 38th overall and was identified as the 13th least expensive state for starting a business. The Hoosier State did not rank higher than 23rd in any of the nine categories assessed. Its best performance was noted in average monthly electric bills; businesses in Indiana paid an average of 12.57 cents per kilowatt-hour this month\u20144% lower than the national average. In terms of internet crime losses, Indiana placed 24th and ranked 25th for sales tax rates. The Tax Foundation reported that Indiana&#8217;s sales tax rate of 7% is the 25th highest among the 46 states that impose such taxes. However, income tax ratings were less favorable for Indiana; it ranked 40th for personal income tax and 37th for corporate tax rates. This year\u2019s income tax rate stands at 3.05% for individuals and at 4.9% for businesses.<\/p>\n<p>The company stated to The Center Square that \u201cstates with low or no income taxes can attract both entrepreneurs and employees by increasing disposable income which may lead to higher consumer spending.\u201d Favorable corporate tax rates enable businesses to reinvest more profits into growth or distribute them to shareholders while lower property taxes and reduced electric bills enhance cash flow\u2014particularly beneficial for energy-intensive sectors.<\/p>\n<p>When compared with neighboring states, starting a business in Indiana is pricier than Kentucky (45th) and Ohio (47th), but significantly cheaper than Illinois (5th) or Michigan (17th). California, New Jersey, Massachusetts, New York along with Illinois are recognized as the five most expensive states to start a business according to this study; Wyoming emerged as the least expensive state followed by South Dakota, Nevada, Ohio and Texas.<\/p>\n<p>As per data from the U.S Census Bureau there were approximately **93** thousand new businesses established in Indiana during **2023**, marking an increase of **12** percent from last year\u2014with over **24** thousand launched specifically within Marion County alone; Lake County saw **7** thousand new establishments while Hamilton County had around **6** thousand startups last year<\/p>\n","protected":false},"author":1,"featured_media":2335966,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2024\/08\/Financial_Markets_Wall_Street_2287.webp","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[39961,39962,7006,39960],"class_list":["post-2335965","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","tag-business-startups","tag-economic-development","tag-indiana","tag-low-taxes"],"fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2024\/08\/Financial_Markets_Wall_Street_2287.webp","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2335965","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2335965"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2335965\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2335966"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2335965"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2335965"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2335965"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}