Indiana Standard Deduction 2024. Indiana has a flat statewide income tax of 3.15% for tax year 2023, which falls to $3.05 in 2024. Indiana provides a standard personal exemption tax deduction of $ 1,000.00 in 2024 per qualifying filer and qualifying dependent(s), this is used to reduce the amount of income.

(hh) the standard deduction is taken in the form of a nonrefundable credit of 6 percent of the federal standard or itemized deduction amount, excluding the deduction for state or local income tax. The standard deduction for a single person will go up from $13,850 in 2023 to $14,600 in 2024, an increase of 5.4%.