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Study: Florida Ranks Fourth As Business Friendly State

By Dominick Tascher Group

WASHINGTON – Sept. 29, 2016
The nonpartisan Tax Foundation released its 13th annual State Business Tax Climate Index, which measures how well-structured each state’s tax code is by analyzing more than 100 variables in five tax categories: corporate, individual income, sales, property and unemployment insurance.
Wyoming once again took first place with the most competitive tax code in the country, while New Jersey maintained its long-standing position at the bottom of the pack.
Overall, Florida ranked fourth. Only three other states were deemed to have a more business-friendly tax code. This year’s most competitive states include:
1. Wyoming
2. South Dakota
3. Alaska
4. Florida
5. Nevada
6. Montana
7. New Hampshire
8. Indiana
9. Utah
10. Oregon
This year’s least competitive states include:
41. Louisiana
42. Maryland
43. Connecticut
44. Rhode Island
45. Ohio
46. Minnesota
47. Vermont and D.C.
48. California
49. New York
50. New Jersey
States are penalized for overly complex, burdensome and economically harmful tax codes, and rewarded for transparent and neutral tax codes that do not distort business decisions. A state’s ranking can rise or fall in rank because of its own actions or actions taken by other states.
“Our goal with the State Business Tax Climate Index is to start a conversation between taxpayers and policymakers about how their states fare against the rest of the country,” …read more

Source:: SWFL Real Estate

    

Study: Florida Ranks Fourth As Business Friendly State
Study: Florida Ranks Fourth As Business Friendly State