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How business-friendly is your state?

Jennifer Azara
by Jennifer Azara
April 17, 2009
  • Accounting
  • Finance Technology
2 minute read
  • SHARE ON

Cash Flow

April 15 just passed, but your state tax responsibilities sure haven’t. Check out where your state ranks in a whole host of different taxes.

Of course, you probably feel the tax burden acutely. But to benchmark your experience against your peers’, the folks at the Tax Foundation recently released its “2009 Facts and Figures How Does Your State Compare?” report.

Take a gander.

Business Tax Climate

First, the big picture. Here are the ten best (and worst) states overall to run a business in, tax-wise.

10 Best 10 Worst
1. Wyoming 1. New Jersey
2. South Dakota 2. New York
3. Nevada 3. California
4. Alaska 4. Ohio
5. Florida 5. Rhode Island
6. Montana 6. Maryland
7. Texas 7. Iowa
8. New Hampshire 8. Vermont
9. Oregon 9. Nebraska
10. Delaware 10. Minnesota

Of course, that list doesn’t tell the whole story.

The tax climate index is comprised of a whole host of different types of business taxes. If your state scores particularly high (or low) on a specific tax type, it could skew your ranking.

To get a clearer picture, check out the rankings based on specific types of business taxes.

Corporate Tax

10 Best 10 Worst
1. Nevada 1. New Hampshire
1. Wyoming 2. Delaware
1. South Dakota 3. Michigan
4. Virginia 4. Massachusetts
5. Missouri 5. Iowa
6. Utah 6. California
7. Oklahoma 7. Minnesota
8. Georgia 8. Maine
9. South Carolina 9. Texas
10. Mississippi 10. Pennsylvania

Sales Tax

10 Best 10 Worst
1. New Hampshire 1. Washington
2. Delaware 2. New York
3. Montana 3. Tennessee
4. Alaska 4. New Mexico
5. Oregon 5. Louisiana
6. Virginia 6. Arizona
7. Kentucky 7. Nevada
8. Maine 8. California
9. Massachusetts 9. Nebraska
10. Maryland 10. New Jersey

Unemployment Insurance Tax

10 Best 10 Worst
1. Oklahoma 1. Rhode Island
2. Arizona 2. Massachusetts
3. Florida 3. Kentucky
4. Missouri 4. Alaska
5. Mississippi 5. Michigan
6. North Carolina 6. Idaho
7. Delaware 7. New York
8. Kansas 8. Illinois
9. Texas 9. Nevada
10. Louisiana 10. South Carolina

Property Tax

10 Best 10 Worst
1. New Mexico 1. New Jersey
2. Utah 2. Connecticut
3. Idaho 3. Nebraska
4. Arizona 4. Pennsylvania
5. North Dakota 5. Ohio
6. Colorado 6. New York
7. Indiana 7. Massachusetts
8. Delaware 8. Rhode Island
9. Hawaii 9. Vermont
10. Montana 10. Illinois

And if your state appears on one or more of these “worst” lists? It doesn’t mean you need to suggest pulling up stakes and searching for a new corporate headquarters.

But you might want to devote some extra time and even money to shoring up compliance in those areas.

For example, if your state is notoriously tough when it comes to sales tax, it might be worth investing in software to boost your company’s compliance. (It may even expose some areas where you could save money.)

Jennifer Azara
Jennifer Azara
Jennifer, a member of the CFO Daily News staff, has covered business and finance for more than 22 years. She has written for CFOs, credit and collections professionals and accounts payable practitioners and has spoken at industry conferences on sales and use tax compliance.

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