As published by the Tax Foundation, thirty-four states will ring in the new year with tax changes, including Indiana. They noted that there have been significant tax reforms as states emerged from the pandemic with revenue surpluses.
Effective for 2024, the Indiana individual income tax rate decreases from 3.15% to 3.05%. The following individual income tax rates are set for following years:
3.0% in 2025
2.95% in 2026
2.9% in 2027 and beyond
Please reach out if you'd like to discuss these changes and how they affect your tax situation.
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