There are five basic legal forms of business structures found in the United States: C corporations, S corporations, sole proprietorships, partnerships, and Limited Liability Companies (LLCs). In order to understand...
- Sacramento Business Journal quotes Scott Drenkard on Cali...
Sacramento Business Journal quotes Scott Drenkard on California's tax climate
- Melissa Wiese
- Web Editor- Sacramento Business Journal
It’s no surprise that California ranks near the bottom of an index that rates states for business tax climates.
The Tax Foundation, a nonpartisan organization that monitors tax policy, released its 2013 State Business Tax Climate Index, rating California at No. 48.
The Golden State’s rank remains unchanged from the 2012 rating.
The index considers corporate taxes, individual income taxes, sales taxes, unemployment insurance taxes, property taxes and policies, among other things, and then looks at other states.
Wyoming ranked No. 1 on the list, followed by South Dakota and Nevada. Rounding out the lower ranks were New York and New Jersey.
“Even in our global economy, a state’s strongest and most immediate competition often comes from other states,” Tax Foundation economist Scott Drenkard said in a news release. “State lawmakers need to be aware of how their states’ business climates match up to their immediate neighbors and to other states in their region.”
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