Indiana Paycheck Calculator

Indiana Paycheck Calculator

Indiana implements a flat tax rate, which implies that individuals are subject to a uniform tax rate of 3.15%, irrespective of their income level or filing status. Additionally, all 92 counties in Indiana levy local taxes, which may result in a cumulative Indiana income tax rate exceeding 6.00%, contingent upon one’s place of residence.

How does Indiana Paycheck Tax Calculator Work?

Your paycheck will have federal and FICA taxes withheld by your employer. FICA taxes consist of Medicare and Social Security taxes. Medicare taxes are withheld at a rate of 1.45%, and Social Security taxes at a rate of 6.2% per paycheck. Employers also contribute the same amount, resulting in a total FICA contribution of 2.9% for Medicare and 12.4% for Social Security.

However, if you are self-employed, you are responsible for paying the entire FICA contribution yourself. There are certain deductions available to self-employed individuals to help offset some of these taxes.

In addition, if you file your taxes as single and your wages exceed $200,000, you will be subject to a 0.9% Medicare surtax. Joint filers with income over $250,000 and married individuals with income above $125,000 filing separately are also required to pay the Medicare surtax.

Important Note: The Stubcreator provides a paycheck calculator designed to provide essential guidance. This should not be relied upon to calculate exact taxes, payroll, or other financial data. You should seek a professional accountant regarding any particular requirement.

Taxable Base Wage

Taxable Base Wage for Indiana are as follows:

SUTA Rates

Indiana has a flat state income tax rate of 3.23%, which doesn’t change based on filing status or income. The 92 counties in the state also impose municipal taxes, which could raise the overall income tax rate in Indiana to more than 6.00%.

FUTA Rates

Although counties and municipalities do not collect local sales taxes, Indiana does have a 7% statewide sales tax. Nonetheless, counties do collect their own income taxes, which in certain places can raise the overall rate to more than 6%.

FICA Rates

In Indiana, the FICA tax rates for 2024 are as follows:

For Employees and Employers:

• Social Security Tax: 6.2%
• Medicare Tax: 1.45%

Additional Medicare Taxes

• Employees: 3.05%

Other Taxes

In 2023, Indiana’s individual adjusted gross income tax rate is 3.15%; in 2024, it will rise to 3.05%.

• In Indiana, the ETT Rate for 2024 is 0.5% to 7.4%
• In Indiana, the SDI Withholding Rate is 3.05%

Indiana Payroll Tax Withholding:

The individual income tax rate in Indiana is a steady 3.05 percent. Local income taxes can also be collected by certain governments. The corporate income tax rate in Indiana is 4.9%. Additionally, Indiana does not impose municipal sales taxes and has a state sales tax rate of 7.0 percent.

Indiana Payroll Tax Calculator

If an individual’s annual gross pay in Indiana is $60,000.00, their net pay (or take-home pay) will amount to $48,080 after tax deductions of 19.87% (equivalent to $11,920.50). These deductions encompass a total of 9.07% (or $5,440.50) for federal income tax, 3.15% (or $1,890.00) for state income tax, 6.20% (or $3,720.00) for social security tax, and 1.45% (or $870.00) for Medicare.

Indiana Paystub Generator

Below mentioned are the details of Indiana:

• Indiana employees are required to complete Form WH-47 to initiate payroll taxes. This crucial information aids in calculating the appropriate amount that needs to be withheld.
• Personal Income Tax Rate is 3.15%.
• Employees are required to update Form WH-47 whenever they experience significant life events, including, but not limited to, marriage, divorce, the birth or adoption of a child, and other events that may impact their taxes.