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If you guessed California for the worst, you'd be wrong. Although they are third worst they are not THE worst when it comes to business tax climates. Guess which is the best? I wouldn't have guessed this one because no politician from that state seems to brag about it. In fact, I can't even name their governor.
"The absence of a major tax is a dominant factor in vaulting many of these ten states to the top of the rankings. Property taxes and unemployment insurance taxes are levied in every state, but there are several states that do without one or more of the major taxes: the corporate tax, the individual income tax, or the sales tax. Wyoming, Nevada, and South Dakota have no corporate or individual income tax; Alaska has no individual income or state-level sales tax; Florida has no individual income tax; and New Hampshire and Montana have no sales tax. The lesson is simple: a state that raises sufficient revenue without one of the major taxes will, all things being equal, have an advantage over those states that levy every tax in the state tax collector’s arsenal."
If you want to see where your state ranks there's a map here with the ranking:
Best State: Wyoming
Worst State: New York (must be missing that in their come on up here to do business TV ads)
Most Improved: Maine
May impact the governors who decide to run for President in 2016 if they don't get off the 10 Worst List next year and they are still governor. That means you Chris Cristie, Andrew Cuomo and Martin O'Malley.
I moved to Wyoming with my family, we love it fine. very little liberalism here too, and the ones that are liberal are more conservative than conservatives east of the mississippi river and the so-call conservatives on the left coast.
OP, your post conveniently left out Oregon, which has no sales tax, and Washington State, which has no individual income tax. Why did you leave them out? Few people are moving to Wyoming while more are moving to Washington. Also, Washington has a far more diversified economy than Wyoming does. Talk about a partisan hatchet job by the Tax Foundation. By the way, my state has the highest or second highest corporate income tax (flat tax though) in the country, a flat personal income tax, and high property taxes, yet our unemployment is only 1% higher than business friendly Wyoming I'd rather live in PA than the middle of nowhere. Oh, I forgot to mention PA's unemployment is lower than ALL states in the South, except Virginia which is 5.5% vs 5.7% for PA. I don't know about you guys, but it seems like taxes aren't the only reason why businesses choose to set up shop in a state
OP, your post conveniently left out Oregon, which has no sales tax, and Washington State, which has no individual income tax. Why did you leave them out? Few people are moving to Wyoming while more are moving to Washington. Also, Washington has a far more diversified economy than Wyoming does. Talk about a partisan hatchet job by the Tax Foundation. By the way, my state has the highest or second highest corporate income tax (flat tax though) in the country, a flat personal income tax, and high property taxes, yet our unemployment is only 1% higher than business friendly Wyoming I'd rather live in PA than the middle of nowhere. Oh, I forgot to mention PA's unemployment is lower than ALL states in the South, except Virginia which is 5.5% vs 5.7% for PA. I don't know about you guys, but it seems like taxes aren't the only reason why businesses choose to set up shop in a state
I saw it, but OP didn't mention them, those 2 being 2 of the most liberal states in the country.
Yes Oregon and Washingtion are clearly in their......element?
Did I say Wyoming was in the South?
Quote:
Originally Posted by Goinback2011
The difference between Florida and PA in terms of the number of small businesses is striking. FL seems to be the small business Capitol of Amreica.
I don't know if it's the business climate or the propensity of the population to be entrepeneurial, but states vary greatly.
Probably a combination of entrepreneurial spirit and ease of setting up a business. Florida has a more diversified population than PA does
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I'd rather live in PA than the middle of nowhere. Oh, I forgot to mention PA's unemployment is lower than ALL states in the South, except Virginia which is 5.5% vs 5.7% for PA. I don't know about you guys, but it seems like taxes aren't the only reason why businesses choose to set up shop in a state
