Since 2011, Louisiana has seen its ranking on the Tax Foundation’s annual “State Business Tax Climate Index” fall six spots, with the latest ranking placing Tte Bayou State at No. 37, down two spots from a year ago.
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Scott Drenkard, the foundation’s director of state projects said New Yorkers are slammed with high taxes on their personal incomes, purchases and property.
The only bracket that New Jersey performed well in was unemployment insurance tax rate, but even then, then Garden State only ranked 31.
This year’s most competitive states include: Wyoming (1), South Dakota (2), Alaska (3), Florida (4), Nevada (5), Montana (6), New Hampshire (7), IN (8), Utah (9) and Texas (10).
While a somewhat arcane report of interest to corporate officers, investors, and a few legislators, the Tax Climate report measures how well-structured each state’s tax code is by analyzing over 100 tax variables in five different categories: corporate, individual income, sales, property, and unemployment insurance taxes.
Chris Christie are winning a contest that no governor wants to win – their states rank 49th and 50th in the nation for high taxes, according to a study by the Tax Foundation, a non-partisan research think tank, based in Washington D.C.
The worst are Vermont (No. 46), Minnesota (47), California (48), NY and New Jersey.
Connecticut’s mix of taxes impacting business is the 44th least competitive in the nation, according to a Tuesday study by the Tax Foundation, with the state seeing the second biggest drop in its overall rating on the study.
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That said, it is still possible for a state to rank in the top ten while still levying all major state business tax types.
