South Dakota #1 Business Tax Climate
The Tax Foundation’s new study, “State Business Tax
Climate Index,” ranks the 50 states on how “business
friendly” their tax systems are and South Dakota for the
second year ranks #1.
The ten states that begun 2004 with the most business-friendly
tax systems are: South Dakota, Florida, Alaska, Texas, New Hampshire,
Nevada, Wyoming, Colorado, Washington and Oregon.
The ten states with the least hospitable business tax climates
are: Hawaii, New York, Minnesota, West Virginia, Rhode Island,
Vermont, Kentucky, Arkansas, Maine and Wisconsin.
The index rewards tax codes that are neutral for business, focusing
on corporate and person state income taxes, sales or gross receipts
taxes, unemployment insurance tax and the state’s fiscal
balance. For South Dakota there is room for improvement with the
unemployment insurance tax and the study points out that as budget
surpluses grow there will be pressure to improve tax climates.
To view the full survey, visit www.taxfoundation.org.
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