One of the loudest critics of the recent wave of corporate inversions is University of Southern California law professor Ed Kleinbard, who warns that these transactions will erode the U.S. corporate tax base because...
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- Media Citations of the 2012 State Business Tax Climate In...
Media Citations of the 2012 State Business Tax Climate Index Within 24 Hours
The Tax Foundation's 2012 State Business Tax Climate Index is tool for business leaders, government policymakers, and taxpayers to gauge how their states' tax systems compare. The 56-page report evaluates 118 different aspects of state taxes and provides a roadmap for improving business tax climate in each state.
Below are the print and electronic media citations received within 24 hours of the Index's release on January 25, 2012. The report was also downloaded 9,811 times and public responses to their Index rankings were given by the Governors of California, Illinois, Montana, Nebraska, New Jersey, and Ohio. The 2011 Index was downloaded 487,000 times, received 320 media mentions, and was cited in 4 State of the State addresses.
Albuquerque Journal: "The Tax Foundation, a Washington, D.C., tax policy study group, has released its annual assessment of state business climates. As usual, New Mexico ranks in the lower half of all states, at 38th. And as usual, some of the states with the best performing economies show up as having bad business climates when it comes to taxation."
Associated Press: "A new report says Wyoming has the best tax policies in the nation for spurring job growth. Report author Mark Robyn says the state is especially attractive for prospective employers because it does not levy personal income and corporate taxes."
Asbury Park Press: "New Jersey's businesses have the nation's heaviest tax burden, according to a survey released Wednesday, a week after Gov. Chris Christie proposed cutting income taxes by 10 percent. The survey was done by the Tax Foundation, a Washington, D.C.-based group that advocates low taxes. It looked at five categories - corporate taxes, individual income taxes, sales taxes, unemployment insurance taxes and property taxes."
Austin American-Statesman: "Texas' lack of an income tax helped the state create one of the best business climates in the country, according to a Tax Foundation report released Wednesday. But the state's complicated and much-maligned 'margin tax' that is paid by businesses weighs down the state, the report's authors said. They recommended the state adopt instead a broad-based net income tax for businesses, an option that was recently deemed constitutional by the Texas Supreme Court."
Austin Business Journal: "Texas ranks as having the ninth-best tax climate in the U.S. for businesses, according to a new report by the Tax Foundation. Texas received a relatively low score on the corporate and sales tax components because of its gross receipts margins tax and intangible property tax, but ranked high in other components, partially because it does not levy an individual income tax."
Bloomberg Businessweek: "New Jersey Governor Chris Christie, the Republican who has sought to roll back taxes, battled with public employee unions and was courted to run for president, can't shake one distinction: His state again ranks last in business climate. The Washington-based Tax Foundation, which advocates for simpler tax codes with lower rates, today released its annual Business Tax Climate Index, which ranks the 50 U.S. states based on how welcoming their tax law is to businesses. New Jersey placed 50th, a position it also held in 2011."
Business Review: "New York once again ranks near the bottom in terms of business friendliness, according to the Tax Foundation's annual State Business Tax Climate Index. According to the index, New York ranks No. 49, beating only New Jersey, which ranked No. 50."
Chicago Tribune: "Let's talk climate change. Not weather, but taxes. When the Tax Foundation issues its annual State Business Tax Climate Index for 2012 on Wednesday, it will show Illinois underwent the most dramatic shift of any state in the union, tumbling a dozen places since its 2011 report from No. 16 in the relative standings to No. 28 this time around."
The Columbian: "Washington state improved its standing in a national assessment of how friendly state tax systems are to businesses, moving from No. 8 last year to No. 7 this year, according to a report released Wednesday by the nonpartisan Tax Foundation. "The Washington D.C.-based tax research group, which has analyzed fiscal policy at the federal, state and local levels since 1937, said the absence of an individual income tax in Washington puts it among the 10 states with the best tax systems under which to attract new companies and to expand existing ones."
Florida Trend: "Florida, at number five, is in the top 10 states in the Tax Foundation's list of "2012 State Business Tax Climate Index." Leading the list is Wyoming, South Dakota, Nevada, Alaska and then Florida. At the bottom of the list is New Jersey, New York, California, Vermont and Rhode Island."
Global Post: "New Jersey is the worst state for business, according to the latest Business Tax Climate Index from the Tax Foundation, a Washington-based group that advocates for simpler tax codes and lower rates, Bloomberg Businessweek reported. The other states on the bottom of the list were New York (No. 49 out of 50) and California (No. 48)."
GoLocalProv: "Rhode Island's business tax climate is still among the worst in the country, according to a new report by the Tax Foundation. The state ranked 46th overall -up one from last year - ahead of only Vermont, California, New York and New Jersey, respectively. The bottom ten also included Iowa (#41), Maryland (#42), Wisconsin (#43), North Carolina (#44) and Minnesota (#45), respectively."
Honolulu Star-Advertiser: "The Washington D.C.-based Tax Foundation ranked Hawaii in the bottom third of states in terms of the tax burden faced by businesses. The nonpartisan think tank ranked Hawaii 35th out of 50 states in the 2012 State Business Tax Climate Index, unchanged from 2011. A rank of 1 is considered most favorable to business while 50 is least favorable."
Insurance Journal: "New Jersey and New York have the worst tax climates in the nation for business, according to a new report by the Tax Foundation, a Washington, D.C.-based research firm. Two other Northeastern states, Vermont and Rhode Island, also scored poorly. Vermont was ranked as fourth-worst state and Rhode Island was fifth-worst."
Knoxville News Sentinel: "Tennessee is the 14th best state for taxes on business, according to the Tax Foundation's analysis of state tax policies. Not surprisingly, Tennessee's ranks best - 8th - in the income tax category and worst - 43rd - in the sales tax category. Tennessee does not tax individual wages or salaries. However, the report notes that Tennessee has the highest combined state and local sales tax rate of 9.4 percent."
Lincoln (NE) Journal Star: "[Gov. Dave] Heineman said Nebraska's tax climate improved from 45th to 30th since 2006 in the Tax Foundation's state rankings. However, there is more work to be done, he said. "'Some will say we can't afford tax relief, but I say we can't afford to miss this opportunity to help hard-working Nebraskans,' stated Heineman."
Los Angeles Times: "California's combination of business, sales, income and other taxes ranks it close to the bottom of the 50 states for being business-friendly, according to a conservative Washington think tank. California placed 48th, ahead of New York at 49th place and New Jersey at 50th, said a report released Wednesday by the Tax Foundation. 'Even in our global economy, a state's stiffest and most direct competition often comes from other states,' Tax Foundation economist Mark Robyn said. '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.'"
Los Angeles Times: "California's combination of business, sales, income and other taxes ranks it close to the bottom of the 50 states for being business-friendly, according to an index put out by a conservative Washington think tank. California placed 48th, ahead of only New York at 49th place and New Jersey at 50th, said a report released Wednesday by the Tax Foundation. The findings are likely to become an issue in a campaign by California Gov. Jerry Brown to put an initiative on the November ballot to temporarily raise the state sales tax and the individual income tax for people who make over $250,000 a year. Brown wants the money to pay down state debt, boost school spending and balance the budget."
MaineBiz: "Maine is 37th in the nation for its business tax climate, a slight improvement over last year's No. 38 spot, according to an annual report from Washington, D.C.-based Tax Foundation."
Memphis Business Journal: "Tennessee is among the 'tax friendliest' states for business in the U.S., coming in at No. 14 for 2012 on a list created by the Tax Foundation. Tennessee, which has no state income tax, ranked higher than all of the other nine states that touch it. Broken down, Tennessee ranked 13th for its corporate tax burden, 8th for individual income tax, 43rd for state sales tax, 27th for unemployment insurance tax and 48th in the property tax ranking."
Missoulian: "Montana has the eighth best business tax climate in the U.S., a national study has concluded. The Tax Foundation, a nonpartisan educational organization based in Washington, D.C., issues its rankings each year. Montana dropped a spot from seventh place in 2011 to eighth place in 2012. "'Montana does have a good tax climate,' said Gov. Brian Schweitzer, a Democrat. 'It's not new.'"
Montana Watchdog: "Montana ranks No. 8 for its tax climate for business - dropping a notch from seventh place in 2011 - according to a 2012 report released Wednesday by an organization that monitors fiscal policies. Wyoming ranked No. 1, according to the eighth edition of the State Business Tax Climate Index put out by the Washington, D.C.-based Tax Foundation. 'The lesson is simple, the state that raises sufficient revenue without one of the major taxes, will, all things being equal, have an advantage over those states that levy every tax in the state tax collector's arsenal,' economist Mark Robyn wrote."
NJ.com: "The Tax Foundation, a conservative, D.C.-based group that advocates for simple tax laws and low rates, yesterday released its eighth annual State Business Tax Climate Index. Gov. Christie told reporters in Trenton that the state will make a much stronger showing in the rankings next year. 'When that income-tax cut comes in, I'm willing to bet you that we won't be 50th again next time,' Christie said."
NJBiz: "New Jersey again ranks last in the United States with the worst overall tax environment for business, but the state has achieved a slightly higher corporate tax ranking, inching up to 39th in the nation from last year's 40th spot, according to a report that by the nonprofit, nonpartisan Tax Foundation. 'New Jersey is ripe for what we call fundamental tax reform, broadening the base and lowering the rate, whether it's corporate income tax, personal income tax, meaning get rid of tax preferences and lower the tax rate,' said Mark Robyn, the report's author and an economist at Tax Foundation. 'In New Jersey, it's not about fiddling around on the edges, it's really about having to make some really big changes.'"
NCNN.com: "A new report comparing state business-tax climates shows that North Carolina has a lot of room for improvement. The reports was released by the nonpartisan Tax Foundation in Washington, D.C. In the report, North Carolina ranks 44th overall in terms of business taxes, compared with 41st a year ago. The report says Wyoming has the nation's best business-tax climate; New Jersey, the worst."
NewsOK: "Oklahoma ranks 33rd in the nation in terms of business taxes, according to a report released Wednesday by the nonpartisan Tax Foundation in Washington, D.C. The state's ranking is down from 29th for fiscal 2011. Wyoming has the nation's best business-tax climate, while New Jersey has the worst, according to the report."
Omaha World-Herald: "The conservative Tax Foundation this week dropped Nebraska to No. 30, from 29th, in its national 'business tax climate' rankings. That ranking, though, is up from 45th from 2006. [Gov. Dave] Heineman and state business leaders feel that an even higher ranking will make the state more attractive to new companies."
Orange County Register: "California's business tax climate is the third worst in the United States, according to a new report from the Tax Foundation. Even though California's temporary income surtax and sales tax hike expired in 2011, the state didn't improve in the standings for 2012 because its taxes were so high already, said Tax Foundation economist Mark Robyn."
Orlando Business Journal: "Florida ranks No. 5 on a new Tax Foundation report that compares state tax systems. Coming in at No. 1 was Wyoming, followed by South Dakota, Nevada, Alaska, Florida, New Hampshire, Washington, Montana, Texas and Utah."
Orlando Sentinel: "Here's some good news for Gov. Rick Scott - though it does tend to undermine the GOP talking point that Florida businesses have been saddled with crushing levels of taxation. A new report from the Tax Foundation says Florida is again among the top five states in the country when it comes to offering businesses low tax burdens. The state ranked fifth, finishing behind Wyoming, South Dakota, Nevada and Alaska."
Panama City News Herald: "[T]he annual State Business Tax Climate Index ranks Florida fifth in the lowest business tax burden, behind only Wyoming, South Dakota, Nevada and Alaska. The Sunshine State also placed fifth in 2011. Note that Florida is by far the largest state on that list, and it finishes well ahead of Texas (ninth), which it often competes with. Neighboring Alabama ranks 20th, Georgia is 34th and Mississippi is 17th."
Patch.com: "According to the Tax Foundation, a nonprofit educational foundation advocating for sound tax policies, New Hampshire businesses are now among the most highly taxed in the country (46th worst corporate tax rank as reported in the Tax Foundation's recently released 2012 Business Tax Climate Index)."
Philadelphia Business Journal: "The Tax Foundation has released its 2012 State Business Tax Climate Index. Delaware and Pennsylvania were among what the Tax Foundation considers the best states, ranking in the top half of the survey. Delaware was No. 12 and Pennsylvania came in at No. 19. New Jersey? Well, let's just say its ranking qualified it for this slideshow countdown - from No. 41 through the worst, No. 50 - on the 10 worst business tax hells."
Phoenix Business Journal: ""Arizona falls in the middle of the pack when it comes to the "business friendliness" of state tax systems. According to the State Business Tax Climate Index for 2012, created by the Tax Foundation, Arizona ranks 27th overall. The best ranking belongs to Wyoming. The worst belongs to New Jersey."
Providence Business News: "Rhode Island has ranked among the "worst" for its business climate tax on the Tax Foundation's annual index ... again. 'Rhode Island made fundamental changes to its individual income tax in 2011. The state formerly had five tax brackets, with rates starting at 3.75 percent and topping out at 9.9 percent. This system also included an optional 6 percent flat tax with few tax preferences,' the report noted."
Puget Sound Business Journal: "[A] Tax Foundation report ranks Washington seventh in the nation when it comes to business-friendly state tax systems. The foundation's eighth annual State Business Tax Climate Index focuses on how various elements of a state's tax system harm or enhance the competitiveness of a state's business environment."
Salt Lake Tribune: "Utah has the 10th best business tax climate among the U.S. states, according to the Tax Foundation, a Washington-based watchdog group. The foundation maintains an index measuring how states' tax systems compare in promoting business competitiveness. 'Even in our global economy, a state's stiffest and most direct competition often comes from other states,' Tax Foundation economist Mark Robyn said."
St. Louis Business Journal: "A new report ranking states' desirability for their business tax climate saw Illinois fall 12 places this year from last year after a significant income and corporate tax increase, according to the Tax Foundation. Missouri was rated worst this year for sales tax, coming in 26th, and best for its property tax, coming in at No. 7."
STLToday: "Last year's big tax hike in Illinois drove the Land of Lincoln down sharply in the latest rankings of state business climates by the Tax Foundation. "The Washington think tank - a Washington think tank that generally advocates for lower taxes - dropped Illinois from 16th to 28th in its annual index of tax climates in the 50 states. Missouri slipped one spot, from 14th to 15th."
StateImpact Idaho: "According to the Tax Foundation's annual report on state business tax climate, Idaho ranks in the middle of the pack. The Foundation looks at corporate, individual income, sales, property and unemployment insurance tax rates to compare states."
Wichita Business Journal, "Governor Brownback might have a point. When he released his proposal for state tax reform earlier this month, he said the state is 'no longer content to be in the middle of the pack' on issues like taxation and economic growth. His assessment of Kansas' tax climate was just about right, according to the Tax Foundation's annual ranking of state business tax climate. Kansas ranked 25 this year."
Wisconsin State Journal: "Wisconsin is one of the 10 worst states in terms of taxes on businesses, according to the State Business Tax Climate Index, released Wednesday by the Tax Foundation. It rates Wisconsin No. 43, down from 41 a year ago. Wyoming, South Dakota and Nevada were rated the top three states for business taxes while the lowest three were California (48), New York (49) and New Jersey (50)."
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The Tax Policy Blog is the official weblog of the Tax Foundation, a non-partisan, non-profit research organization that has monitored tax policy at the federal, state and local levels since 1937. Our economists welcome your feedback. If you would like to send an e-mail to the author of a blog post, please click on that person's name to locate his or her e-mail address or visit our staff page here.