New State Business Tax Climate Index Released; Wyoming Is #1
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
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Top 10: |
Bottom 10: |
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1. Wyoming 2. South Dakota 3. Nevada 4. Alaska 5. Florida 6. Montana 7. New Hampshire 8. Texas 9. Delaware 10. Oregon |
41. Maine 42. Minnesota 43. Nebraska 44. Vermont 45. Iowa 46. Ohio 47. California 48. New York 49. New Jersey 50. Rhode Island |
Click here to download the full 64-page State Business Tax Climate Index and click here for the 4-page executive summary.