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SBE Council ranks Florida in top 10 on its ‘Business Tax Index’

The Small Business & Entrepreneurship Council (SBE Council) published the “Business Tax Index 2012: Best to Worst State Tax Systems for Entrepreneurship and Small Business.” The index ranks the 50 states and District of Columbia according to the costs of their tax systems for entrepreneurship and small business.

(To view the interactive U.S. map with each state ranking, please click here.)

SBE Council’s “Business Tax Index 2012” pulls together 18 different tax measures, and combines those into one tax score that allows the 50 states and District of Columbia to be compared. Among the taxes included are income, capital gains, property, death/inheritance, unemployment, and various consumption-based taxes, including state gas and diesel levies.

According to the “Business Tax Index 2012,” the 15 best tax systems are: 1) South Dakota, 2) Texas, 3) Nevada, 4) Wyoming, 5) Washington, 6) Florida, 7) Alaska, 8)Alabama, 9) Ohio, 10) Colorado, 11) Mississippi, 12) Michigan, 13) South Carolina, 14) Tennessee, and 15) Missouri.

The 15 worst state tax systems are: 37) Nebraska, 38) North Carolina, 39) Illinois, 40) Oregon, 41) Rhode Island, 42) Connecticut, 43) Hawaii, 44) Vermont, 45) California, 46) Maine, 47) Iowa, 48) New York, 49) New Jersey, 50) Minnesota and 51) District of Columbia.

In terms of recent policy changes, it’s worth noting that some states have made steps forward on providing some tax relief, such as Indiana, Arizona, Maine, Michigan, North Dakota, Delaware, Oklahoma, along with Ohio. In contrast, other policymakers worked against entrepreneurship by making state taxes less competitive, such as Oregon, Connecticut, Illinois and New York.

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