One point of contention in the North Carolina tax reform debate has been the fate of one particular tax expenditure—the uncapped sales tax refund for nonprofits. The refund applies to "sales of taxable tangible personal...
- CNN Money quotes Scott Drenkard on the State Business Tax Climate I...
CNN Money quotes Scott Drenkard on the State Business Tax Climate Index
A study by the Tax Foundation has ranked which states have the best tax environment for business -- and which ones don't.
Wyoming once again ranks as the state with the best tax environment for businesses, according to a recent study by the Tax Foundation.
The state scores better than any other on the group's 2013 State Business Tax Climate Index, mostly because it has no corporate or income taxes.
That environment is especially helpful for small business owners, who typically pay via income taxes.
"There's no taxes quite like no taxes," said Scott Drenkard, an economist at the Tax Foundation, a non-partisan group that advocates for tax reform.
That's not to say that companies in Wyoming don't pay any taxes.
When it comes to property taxes, businesses pay an effective rate of 4.81%, one of the highest in the country.
And Wyoming does have a sales tax - though at 4%, it's relatively low.
Wyoming also bears the distinction of having the nation's lowest beer taxes.
But Wyoming's business-friendly tax policies haven't been enticing enough to inspire business owners to relocate their companies there. The number of firms in the state has remained steady at about 15,000 since 2005, according to the U.S. Census Bureau.
In his annual budget briefing, Rhode Island Governor Lincoln Chafee (I) proposed a reduction of the state’s corporate income tax rate from 9 percent to 7 percent over the next three years....
April 12, 2013
Senator Bernie Sanders
332 Dirksen Building
Washington, DC 20510
Dear Senator Sanders,
During your April 5, 2013 appearance on Real Time with Bill Maher ...
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