Tax rate
Sec. 1. (a) Each taxable year, a tax at the rate of three and
four-tenths percent (3.4%) of adjusted gross income is imposed upon
the adjusted gross income of every resident person, and on that part
of the adjusted gross income derived from sources within Indiana of
every nonresident person.
(b) Except as provided in section 1.5 of this chapter, each taxable
year, a tax at the rate of eight and five-tenths percent (8.5%) of
adjusted gross income is imposed on that part of the adjusted gross
income derived from sources within Indiana of every corporation.
(Formerly: Acts 1963(ss), c.32, s.201; Acts 1973, P.L.50, SEC.1.) As
amended by Acts 1979, P.L.68, SEC.1; Acts 1981, P.L.77, SEC.8;
P.L.2-1982(ss), SEC.8; P.L.47-1984, SEC.4; P.L.390-1987(ss),
SEC.37; P.L.192-2002(ss), SEC.70; P.L.81-2004, SEC.20.
Last modified: May 28, 2006