Indiana Trying to Lower Corporate Income Tax to Lure Illinois Businesses
By: Colleen McCormick
Updated: January 25, 2011
Indiana's General Assembly is trying to lower its corporate income tax rate, in response to Illinois' tax hike.
Right now, Indiana's corporate income tax is 8 point five percent.
That's still higher than Illinois' new business tax rate of seven percent.
But lawmakers there are working on legislation to lower the corporate income tax rate to five percent.
Indiana officials say while their taxes are higher, their state is better for business because it pays bills on time and has a balanced budget.
