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Massachusetts is getting more business friendly
Senator Moore hails latest report October 9, 2012 ... Massachusetts is getting more business friendly from the standpoint of the tax burden on businesses. This year, Massachusetts ranks 22nd among the States, and is the most favorable in the Northeast except for New Hampshire, according to the Tax Foundation. Massachusetts moved to 22nd from 24th last year, and from 28th in 2011. The Tax Foundation is a non-profit, non-partisan tax research organization based in Washington, DC. "While Massachusetts tax policy could still be more friendly to business, we seem to be moving in the right direction," noted Sen. Richard T. Moore, D-Uxbridge. "Massachusetts has the second most favorable business tax climate in the Northeast and scores significantly better than some of our southern competitors such as Georgia, North Carolina, and South Carolina," he added. Each year the Tax Foundation produces the State Business Climate Tax Index to enable business leaders, government policymakers, and taxpayers to gauge how their states' tax systems compare. While total taxes paid is a relevant measure, another is how the elements of a state tax system enhance or harm the competitiveness of a state's business environment. The Index looks at over 100 variables in individual income tax, corporate income tax, sales tax, unemployment insurance tax, and property tax to reduce these many complex considerations to an easy-to-use ranking. The 2013 Index reflects state tax systems as they stood on July 1, 2012, the start of the 2013 Fiscal Year in most states. The 10 best states in this year's 2013 Index are Wyoming, South Dakota, Nevada, Alaska, Florida, Washington, New Hampshire, Montana, Texas, and Utah. Many of these states do not have one or more of the major taxes, and thus do not have the associated complexity and distortions. |
