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Which States Have The Best Business Climate?
Is your state among the top or considered the worst?
Which States Are Best for
Business? The 2008 State Business Tax Climate
Index
PR Newswire via NewsEdge Corporation :
WASHINGTON, Oct. 10, 2007/PRNewswire-USNewswire/ -- Today, the Tax
Foundation released its 2008 State Business Tax
Climate Index. 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.
Keeping a state competitive in today's global
market can be difficult, but there is one factor
lawmakers have direct control over: the quality
of state tax systems. The Index measures how
well a state's tax system encourages investment
by maintaining a broad tax base and low
rates.
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"There's no question that states are
competing with one another for companies, jobs,
and people," said study co-author Curtis Dubay.
"Taxes matter to businesses, and the states with
better business tax climates will reap the
rewards." Dubay added, "States need to constantly be on
the lookout for ways to improve their business
tax climate. If they're standing still, they're
losing ground to states actively improving their
climates."
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. The states are scored on these taxes, and
the scores are weighted based on the relative
importance or impact of the tax to a
business.
This year's Index will be formally unveiled
at the State Policy Network's Annual Meeting,
held in Portland, Maine, on
Thursday, October 11 by study co-
author Chris Atkins.
The Index has been published yearly by the
Tax Foundation since 2003. The full report
includes historical data showing how the states
have changed their rankings over time.
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Rankings - The Top and Bottom 10 States in 2008
Top 10: Bottom 10:
1. Wyoming 41. Maine
2. South Dakota 42. Minnesota
3. Nevada 43. Nebraska
4. Alaska 44. Vermont
5. Florida 45. Iowa
6. Montana 46. Ohio
7. New Hampshire 47. California
8. Texas 48. New York
9. Delaware 49. New Jersey
10. Oregon 50. Rhode Island
The full report, Tax Foundation Background
Paper No. 57, and the full 50- state rankings,
are available online at:
http://www.taxfoundation.org/publications/show/22658.html
The nonpartisan, nonprofit Tax Foundation has
monitored tax policy at the federal, state and
local levels since 1937. Best known for its
annual calculation of Tax Freedom Day(R), the
Tax Foundation is a nonprofit, nonpartisan
501(c)(3) organization.
SOURCE Tax Foundation
CONTACT: Nate Bailey, Director of Media
Relations of The Tax Foundation, Desk:
+1-202-464-5102, Cell: +1-202-595-4364,
nate@taxfoundation.org
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