Indiana State Income Tax

Indiana has a flat income tax rate of 3.15% for 2024, which applies to all income levels and filing statuses.

• Flat Tax Rate: 3.15% for all income levels in 2024.
• Personal Exemptions: $1,000 for each taxpayer and dependent.
• Additional Dependent Exemption: $1,500 for each dependent, in addition to the personal exemption.

County Income Taxes

Most Indiana counties impose an additional local income tax, ranging from 0.5% to 3.38% depending on your county of residence. These county tax rates are set annually by county councils.

Note: This calculator provides an estimate of state-level taxes only. County taxes would need to be calculated separately based on your specific location.

Federal Income Tax

Your federal income tax is calculated based on federal tax brackets, your filing status, deductions (standard or itemized), and allowances claimed on your W-4 form. Pre-tax deductions like 401(k) or HSA contributions reduce your federal taxable income.

FICA Taxes (Social Security & Medicare)

FICA taxes fund Social Security and Medicare. These are typically withheld by employers.

• Social Security: 6.2% on income up to the annual limit ($168,600 for 2024).
• Medicare: 1.45% on all income. An additional 0.9% Medicare tax applies to income above certain thresholds ($200,000 for Single, $250,000 for MFJ).

Other Indiana Taxes (Not Calculated Here)

While this calculator focuses on income taxes, be aware of other taxes in Indiana:

• Sales Tax: Indiana has a state sales tax rate of 7%, with no additional local sales taxes.
• Property Tax: Property taxes in Indiana are capped at 1% of the property's assessed value for owner-occupied homes, 2% for rental properties and farmland, and 3% for business properties.
• Gas Tax: Indiana has a gasoline tax of 34 cents per gallon, which includes both the gasoline use tax and gasoline excise tax.

Disclaimer: This information is for general guidance for the 2024 tax year and is not tax advice. Consult a tax professional for personalized advice.