Greg Barr Houston Business Journal
Published: 10-08-08
Texas continues to rank among the best states in the country for its business-friendly tax system according to a national study.
The Tax Foundation is set to release its annual State Business Tax Climate Index findings on Oct. 6 with Texas moving up one slot in the 2009 rankings from No. 8 to No. 7.
Wyoming retains its top ranking as having the most business friendly tax system in the nation followed by South Dakota Nevada Alaska and Florida mirroring the exact order in the 2008 rankings. New Jersey ranks at the bottom of the list.
The Index published by the Washington D.C.-based Tax Foundation since 2003 measures how well a state’s tax system encourages investment by maintaining a broad tax base and low rates.
The scores take into account corporate tax individual income tax sales tax unemployment tax and property taxes.
The states are scored on these taxes and the scores are weighted based on the relative importance or impact of the tax to a business.
