Indiana announces changes to state and local income tax rates

The Indiana Department of Revenue has announced that Adams, Elkhart, Jennings, Knox, Marion, Parke, Randolph, and Wabash counties have changed their county income tax rates, effective January 1, 2015, as follows: Adams COIT/CEDIT will be 0.01624 for residents and 0.00799 for nonresidents. Elkhart CAGIT/CEDIT will be 0.02 for residents and 0.005 for nonresidents. Jennings CAGIT/CEDIT will be 0.0175 for residents and 0.005 for nonresidents. Knox COIT/CEDIT will be 0.01 for residents and 0.0055 for nonresidents. Marion COIT will be 0.0177 for residents and 0.004425 for nonresidents. Parke CAGIT/CEDIT will be 0.0245 for residents and 0.0075 for nonresidents. Randolph CAGIT/CEDIT will be 0.0225 for residents and 0.0075 for nonresidents. Wabash CAGIT/CEDIT will be 0.029 for residents and 0.005 for nonresidents. In addition, the state income tax rate will decrease from 3.4% to 3.3%. (Indiana Department of Revenue Departmental Notice #1, R24/12-14; http://www.in.gov/dor/3618.htm.)

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