New State Business Tax Climate Index Released; Wyoming Is #1
October 11, 2007
Yesterday we unveiled the eagerly awaited Tax Foundation State Business Tax Climate Index for fiscal year 2008. The Index ranks how “business-friendly” the 50 state tax systems are, providing a roadmap for state lawmakers concerned with keeping their states tax-competitive.
The Index ranks states based on the taxes that matter most to businesses and business investment: corporate tax, individual income tax, sales tax, unemployment tax and property tax.
Wyoming tops the list this year as the most business tax-friendly state, followed by South Dakota. At the bottom of the list are Rhode Island and New Jersey.
The Top and Bottom 10 Business Tax-Friendly States in FY2008
2. South Dakota
7. New Hampshire
48. New York
49. New Jersey
50. Rhode Island