The choice of where to locate a business depends upon several factors. One of the most important elements of a favorable business environment is good tax policy. Companies owe it to their investors, workers and customers to maximize after-tax income. Consequently, businesses tend to migrate to those areas where tax policies are least punishing, bringing with them jobs, investment and economic growth.
Where does your state stand? The results are shown in the map above. Wyoming claimed the top spot for the fourth straight year, with South Dakota, Nevada, Alaska and Florida rounding out the top five best business tax climates.
What was responsible for the high rankings in these states? In general, it was the absence of one of the major taxes. None of these states have individual income taxes, and the top three scorers additionally have no corporate income tax.
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