The Tax Foundation’s State Business Tax Climate Index enables business leaders, government policymakers, and taxpayers to gauge how their states’ tax systems compare. While there are many ways to show how much is collected in taxes by state governments, the Index is designed to show how well states structure their tax systems, and provides a roadmap for improvement.
The 10 best states in this year’s Index are:
1. Wyoming
2. South Dakota
3. Alaska
4. Florida
5. Nevada
6. Montana
7. New Hampshire
8. Indiana
9. Utah
10. Texas
The absence of a major tax is a common factor among many of the top ten states. 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 income tax, the individual income tax, or the sales tax. Wyoming, Nevada, South Dakota, and Texas have no corporate or individual income tax (though Nevada and Texas both impose gross receipts taxes); 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.
This does not mean, however, that a state cannot rank in the top ten while still levying all the major taxes. Indiana and Utah, for example, levy all of the major tax types, but do so with low rates on broad bases.
The 10 lowest ranked, or worst, states in this year’s Index are:
41. Maryland
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One of the reasons that I am a Florida resident rather than a MD resident.
ReplyDeleteAll thanks to O'Malley and the Democratic majority at the statehouse!
ReplyDelete4:58 PM
ReplyDeleteYup!
O'Malley did a lot of irreparable damage to Maryland's economy - THE WORSE OF THE WORSE GOVERNORS - (substantial increases in bridge toll fees, 20% increase in sales tax, doubling of the flush tax, unbelievable increases in septic tank costs for new & existing homes, tags & registration, gasoline taxes - he actually indexed these, fire sprinkler systems. . . I could go on and on). Tax after tax after tax. And even before O'Malley - there was Bob Erlich. He also did a lot of damage to Maryland's economy - (flush tax, increased MVA fees including substantial increases in tag registration, licenses, title transfers, he is solely responsible for electric deregulation that caused some Marylanders to experience the highest utility rate increases ever recorded - 72%).
ReplyDeleteAnd then there was Paris Glendening, and, of course King Willie Donald Shaeffer.
I am surprised that Maryland is number 41 - but that number is still pathetic.
These liberal retards will never admit that their policies are destructive.
ReplyDeleteJust one of the too many to count reasons I was a MD resident for many years and am now a SWFL resident........in the two years since I've moved here I've increased my income nearly 20k doing the same job I was doing on the shore.........and while your all tryin to figure out how to stay warm I just have to pick my flip flops.....and shorts.....
ReplyDeleteResponding to 5:54 Posting - No doubt - Maryland has a color-full history of tax and spend Governors - including Republican Bob Ehrlich. I can remember all through the campaign between O'Malley & Ehrlich - Ehrlich tried to lay claim that O'Malley was a taxing king - while O'Malley countered Ehrlich saying - since when is a fee (referring to the flush tax) - not a tax.
ReplyDeleteFact is - they were both TAX KINGS.
To 11:02 Poster - I agree. Maryland's history is full of tax and spend Governors. Larry Hogan appears to be one of the best Governors Maryland has ever had. Problem is - to little to late. So much economic damage has been done - it will take decades to reverse. And if another Democrat is elected after Hogan - it may never self correct.
ReplyDeleteAs a businessman - I would never, I repeat NEVER, open up another Maryland business ever again. Just to many stop signs, pitfalls, and obstacles.