September 25, 2009
Jacksonville Observer Highlights Florida Ranking in Tax Foundation 2010 State Business Tax Climate Index
"Report: Florida Among Most 'Business Friendly' States"
By News Service of Florida
Florida remains among the top 10 states in the nation when it comes to having "business friendly" taxes, but one leading lawmaker says the high ranking means little if the Sunshine State can't do better at attracting jobs.
Florida was ranked 5th in the 2010 State Business Tax Climate report put out this week by the Washington D.C. based Tax Foundation. Florida, which has the best ranking among Southern states, has held the same ranking for several years, based largely on the fact that the state constitution prohibits a state income tax.
The conservative-leaning Tax Foundation also looked at property taxes, unemployment taxes, corporate income taxes and sales taxes. Even though the state's now higher cigarette tax was included in overall sales taxes, it did not change the state's overall ranking.
Natasha Altamirano, a spokeswoman for the foundation, stressed that the rankings don't reflect how much money the taxes raise, but how broad and competitive the structure is compared to other states. In fact, the report faults Florida for some of its economic incentives, pointing to the decision by Capital One to close a Tampa-area facility in 2004 even though it received tax breaks from the state. The report states it is a more "effective approach" to "systematically" improve business taxes for the long term.
