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    Indiana has no Franchise Tax, Intangibles Tax, Accounts
    Receivables Tax, or Employment Tax

Initiatives, Incentives, and Taxes in Pike County Indiana

Incentives for Doing Business in Pike County

Pike County works aggressively to help meet the needs of the clients during the site selection process and after the location decision is made. Pike County provides continued support to prospects after the location and is prepared to aid with additional programs such as relocating employees, and providing temporary office space and support.

Additional information can be obtained on programs below and other possible incentives and programs by contacting Ashley Polen

Pike County offers two TIF Zones and an area for development that is currently under study.

Initiatives in Pike County Indiana

Local Incentives

Additional information can be obtained on programs below and other incentives and programs by contacting Ashley Polen Willis.

Tax Abatement
Tax abatement is offered by the local governmental taxing unit on real property and equipment. Real property can qualify for a three year, seven year or ten year abatement on new buildings and improvements or increases in assessed value on remodeled or renovated structures. Land does not qualify. Manufacturing equipment (new to the State of Indiana) qualifies for a deduction from assessed value over a ten year period. Equipment not used in direct production, such as office equipment, does not qualify. New real estate investments options can have abatement terms from one to a maximum of ten years.

Business Personal Property Taxes
Abatement for used equipment - local governing body may now grant tax abatement for property that was previously used in Indiana. The equipment must be acquired in an arm’s length transaction with an unaffiliated party.

Tax Incremental Financing (TIF)
Bonds issued by a local municipality may be used to finance infrastructure improvements and new construction areas needing growth or rehabilitation. The infrastructure pays for itself through increased tax revenues (resulting from the property valuation increases) which are pledged for repayment of the bonds.

State Incentives

There are more than 30 different types of incentives that are available to new and existing businesses in the state of Indiana. A few are listed below. In addition, there are approximately 15 other grants and funds that may be of assistance to a company locating in Indiana. We will work dilligently to be sure your team is aware of all assistance your company may be qualified to receive.

  • Elevate Ventures
    Elevate Ventures is among the largest venture capital firms in Indiana and a top provider of funding to entrepreneurs launching and building businesses in the state. Because funding isn’t always easy to come by in Indiana, we make every effort to make capital more accessible to high-growth startups and entrepreneurs. One way we do that is through the management of funds that provide venture capital-type investments and other funds to Indiana-based companies during their early stages of growth. Another way is through introductions to other venture capital firms and angel investors.
  • Industrial Development Grant Fund (IDGF)
    This grant provides money to local governments for off-site infrastructure projects associated with an expansion of an existing Indiana company or the location of a new facility in Indiana. State funding through the IDGF program must be matched by a combination of local government and company financial support.
  • Small Business Innovation Research Initiative (SBIR/STTR)
    The Small Business Innovation Research (SBIR) — along with its sister program, the Small Business Technology Transfer program (STTR) — are highly competitive and encourage small businesses to explore their technological potential. SBIR/STTR funding is available from 11 participating agencies throughout the United States and focuses on various technological areas.
  • Skills Enhancement Fund (SEF)
    The Skills Enhancement Fund (SEF) provides financial assistance to businesses committed to training their workforce. Trainees must be Indiana residents. SEF reimburses eligible training expenses over a two-year term. Companies may reapply for additional SEF funds after their initial two-year term. IEDC typically does not provide reimbursement for training that is required by law.

 

Headquarters Relocation Tax Credit

A company must have a worldwide annual revenue of at least $100 million to qualify.

Industrial Recovery Tax Credit

Provides companies incentives to invest in facilities requiring significant rehabilitation or remodeling expense. The tax credit is calculated as a percentage of qualified rehabilitation expense.

Venture Capital Investment Tax Credit

Established to improve access to capital to fast growing Indiana companies by providing individual and corporate investors an additional incentive to invest in early state firms.

Hoosier Business Investment Tax Credit (HBITC)

Provides a credit against a company’s Indiana tax liability.

Tax-exempt Bonds

Issued by state or local governmental entities for the benefit of a private company, usually manufacturers. Interest on these bonds is generally exempt from federal income taxes for investors, which usually result in lower long-term interest rates to the borrower.

Capital Access Program (CAP)

A small business credit enhancement program that creates a specific cash reserve fund for the lender to use as additional collateral for loans enrolled that might not meet conventional lending requirements.

Tax Information for Pike Couty

In Indiana there are two basic corporate taxes - Income and Property. Unlike some other States Indiana has no Franchise Tax, Intangibles Tax, Accounts Receivables Tax, or Employment Tax.

Businesses in Pike County Indiana benefit from Indiana's growing national reputation as a great state in which to do business. The bottom line for your business - a low-cost, pro-business environment —including low utility costs, workers’ compensation and unemployment insurance rates in an area offering a highly skilled, educated and capable workforce.

Indiana has no gross receipts tax and no inventory tax.

Corporate Income Tax

The Corporate Adjusted Gross Income Tax is calculated at a flat 8.5 percent of adjusted gross income. Adjusted gross income is a company’s federal adjusted gross income with certain adjustments. This method of determination simplifies tax calculations for corporations and does not apply to S corporations and not-for-profit organizations.

Single-Sales Factor

Indiana is phasing in the single-sales factor for apportioning corporate income tax. Indiana had determined its share of an interstate or international corporation’s taxable income by weighing the Indiana portion of a company’s property and the proportion of its employees in Indiana. The single-sales factor will calculate the Indiana portion based solely on the portion of a company’s sales in Indiana.

Sales and Use Tax

Indiana’s Sales and Use Tax is tax is calculated at a rate of 7 percent. In manufacturing, the following are exempt from the sales tax: raw materials, equipment, power, electricity, and utilities. Wholesale sales, items used directly in production, and sales made in interstate commerce are exempt. In addition, the purchase of research and development equipment is exempt from the tax.

Property Tax

Real and personal property tax is assessed at 100 percent of market value. Tax rates and exemptions vary among local jurisdictions.

Individual Income Tax

Indiana’s personal income tax is 3.4 percent of federal adjusted gross income (with certain exemptions and deductions).

Pike County is the median center of US population; at the center of your success!