| |
Business Taxes |
Indiana |
Illinois |
Kentucky |
Corporate State Income Tax |
|
|
|
Due Per Net Taxable Income of $1,000,000 (2006) |
$85,000 |
$73,000 |
$70,000 |
| |
|
|
|
Other Business Costs |
|
|
|
Estimated Payroll Based on 100 Employees (Avg. Annual Wage) 2003 |
$3,815,600 |
$4,534,300 |
$3,599,600 |
Average Workers' Compensation Annual Premium Based on 100 Employees (2006) |
$65,839 |
$167,048 |
$144,125 |
Average Unemployment Insurance Based on 100 Employees (July 2006) |
$18,900 |
$37,400 |
$21,600 |
| |
|
|
|
Total State Business Taxes |
|
|
|
Including Corporate State Income Tax, Workers' Compensation and Unemployment Insurance (2006)
|
$169,739 |
$267,448 |
$235,725 |
| |
|
|
|
Other State Data |
|
|
|
Average Annual Wage, Private Industry (2005) |
$34,080 |
$39,290 |
$32,550 |
Average Price of Electricity, Industrial
Sector - cents/kWh (2004) |
4.13 |
4.65 |
3.34 |
Average Annual Unemployment (2006) |
5.4% |
5.7% |
6.1% |
| |
|
|
|
Business Taxes |
Michigan |
Ohio |
Tennessee |
Corporate State Income Tax |
|
|
|
Due Per Net Taxable Income of $1,000,000 (2006) |
$71,213 |
$85,000 |
$65,000 |
| |
|
|
|
Other Business Costs |
|
|
|
Estimated Payroll Based on 100 Employees (Avg. Annual Wage, 2003) |
$4,612,100 |
$3,883,100 |
$3,894,000 |
Average Workers' Compensation Annual Premium based on 100 Employees (July 2006) |
$161,345 |
$167,048 |
$166,274 |
Average Unemployment Insurance Based on 100 Employees (July 2006) |
$24,300 |
$24,300 |
$19,600 |
| |
|
|
|
Total State Business Taxes |
|
|
|
Including Corporate State Income Tax, Workers' Compensation and Unemployment Insurance (2006) |
$256,858 |
$267,448 |
$250,874 |
| |
|
|
|
Other State Data |
|
|
|
Average Annual Wage, Private Industry (2005) |
$40,040 |
$36,270 |
$33,260 |
Average Price of Electricity, Industrial Sector - cents/kWh (2004) |
4.92 |
4.89 |
4.46 |
Average Annual Unemployment, 2006 |
6.7% |
5.9% |
5.6% |
Source: Indiana Economic Development Corporation 02/2007
|
