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(Taxable Income = $1,000,000; Employees = 100)
|
Total State Business Taxes | Business Income Tax |
|---|---|---|
| Indiana | $179,199 |
$85,000 |
| Illinois | $314,531 |
$73,000 |
| Iowa | $234,050 |
$80,000 |
| Kentucky | $236,836 |
$70,000 |
| Michigan | $186,212 |
$19,000 |
| Minnesota | $329,591 |
$98,000 |
| Missouri | $266,401 |
$62,500 |
| Ohio | N/A* |
$85,000 |
| Wisconsin | $235,739 |
$79,000 |
Source: IEDC, 2008
*No private
workers’ compensation insurance handled through the state
(Taxable Income = $1,000,000; Employees = 100)
| WC Premium | WC Rate | Unemp. Insurance | |
|---|---|---|---|
| Indiana | $75,299 | $2.06 | $18,900 |
| Illinois | $205,881 | $4.51 | $35,650 |
| Iowa | $116,345 | $3.39 | $22,000 |
| Kentucky | $155,236 | $4.41 | $21,600 |
| Michigan | $142,912 | $3.39 | $24,300 |
| Minnesota | $175,911 | $4.17 | $55,680 |
| Missouri | $174,201 | $4.69 | $29,700 |
| Ohio | N/A* | N/A* | $24,300 |
| Wisconsin | $122,614 | $3.33 | $34,125 |
Source: IEDC, 2008
*No private
workers’ compensation insurance handled through the state