2019 Wells County Property Tax Rates (Varies by Township and City)
Township Tax Rate
Bluffton Lancaster-Norwell 1.7634
Bluffton Lancaster-Bluffton Harrison 1.8999
Indiana Tax Information
Indiana ranks 1st in the Midwest and 8th nationally in the Tax Foundation's 2015 State Business Tax Climate Index (October 2014).
Corporate Income Tax
The Corporate Adjusted Gross Income Tax is calculated at a flat 6.25 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.
* Indiana's corporate income tax rate is decreasing from the current 6.25% to 4.9% by 2021.
Gasoline and Diesel Fuel Taxes
The combined federal, state and local tax on gasoline in Indiana is $0.483 per gallon. The combined
federal, state and local tax on diesel fuel in Indiana is $0.632 per gallon.
Gross receipts and Inventory Tax
Indiana has no gross receipts tax and no inventory tax.
Individual Income Tax
Indiana’s personal income tax is 3.23 percent of federal adjusted gross income (with certain exemptions and deductions).
**Personal income tax rate decreased from 3.3% for 2015-2016 to 3.23% for 2017 and beyond.
Wells County personal income tax rate is 2.1 percent, including County Economic Development Income Tax (CEDIT) .45% of Individual Adjusted Gross Income.
Sales and Use Tax
Indiana’s Sales and Use Tax is tax is calculated at a rate of 7%. 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.
Business Property Tax
There is a 3% cap on Indiana's business property tax.