Bay State Business Tax Climate Ranked 25th
The business community often points to the business tax code in Massachusetts as a hindrance. But according to The Tax Foundation, a Washington, D.C.-based research organization that monitors fiscal policy, the Bay State business tax climate is only slightly below average.
Massachusetts fell one place, from 24th to 25th in the 2014 State Business Tax Climate Index, which collects data on more than one hundred tax provisions in each state and synthesizes them into a score.
State’s that top the list with the most business-friendly tax codes, in order of ranking, are Wyoming, South Dakota, Nevada, Alaska and Florida. At the bottom of the list are New York, New Jersey, California, Minnesota, and Rhode Island.
The Tax Foundation said Texas dropped out of the top ten spots for the first time, ranking 11th, while Arizona climbed five spots to 22, and Kansas shot up six spots to 20.
“The states that lost ground this year usually did so because they changed policy in a way that makes the tax code more complex, burdensome, or economically harmful,” Tax Foundation economist Scott Drenkard said in a statement. “By contrast, the states that improved did so because they are moving closer to a tax code that collects revenue without unnecessarily distorting business decisions. Their tax codes became more neutral.”
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