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Which states have the best business tax climate?

Ask any businessman which state will be the best state to do business in and you can bet the first thing he’ll ask about is taxes.

So which states have the most favorable tax climate for businesses? That depends on what factors are measured and how they are weighed – something that is often hotly debated by the “experts”. So, as you might expect, the “answer” depends upon who performed the study, what factors were considered and the weights they assigned.

Anyone who will be doing business in multiple states and/or is considering incorporating in a state other than the state in which they will be operating would be remiss if they failed to consult with a professional familiar with the laws of the jurisdiction under consideration as well as the specific business situation.

You may want to consider the results of a study performed by the Tax Foundation, a nonpartisan tax research group based in Washington, D.C. that was founded in 1937. According to the Tax Foundation’s 2007 State Business Tax Climate Index:

10 BEST STATES
1. Wyoming
2. South Dakota
3. Alaska
4. Nevada
5. Florida
6. Texas
7. New Hampshire
8. Montana
9. Delaware
10. Oregon

 

10 WORST STATES
41. Minnesota
42. Maine
43. Iowa
44. Nebraska
45. California
46. Vermont
47. New York
48. New Jersey
49. Ohio
50. Rhode Island


To read more about these results and how the study is conducted, visit the organization’s web site at http://www.taxfoundation.org/publications/show/78.html

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MaxFilings is not a law firm, does not offer legal advice and is not a substitute for a law firm or an attorney.
Your use of this site is at your own risk and is subject to the terms and conditions in our  full disclaimer.

MaxFilingsMaxFilings is an online incorporation service that lets you incorporate or form an LLC in just 10 minutes, or start organizing your information until you are ready. There is no charge to store incorporation information in the secure MaxFilings system, and there is never any obligation to order.

MaxFilings incorporation fees are very affordable, and an extensive library for researching your choices is available at www.maxfilings.com/incorporation-knowledge-center.

Newly incorporated businesses also have access to online promotional services such as business cards, PR, web sites, and SEO services through partner company SEO Advantage (www.seoadvantage.com) .

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© 2008 MaxFilings.com All Rights Reserved. DISCLAIMER: MaxFilings, Inc. is a service company and does not provide legal or financial advice. The information provided on this site is for general information purposes only and not legal advice. MaxFilings is not a law firm, does not offer legal advice and is not a substitute for a law firm or an attorney. Your use of this site is at your own risk and is subject to the terms and conditions in ourÊfull disclaimer found at: www.maxfilings.com/disclaimer.html