Report: New York 49th In Business Tax Climate
New York State is 49th in business tax climate, according to new data from the Tax Foundation, an independent nonprofit tax policy group.
The report, which gauges how well states structure their tax systems, ranks New York State only above New Jersey on this year’s index. Wyoming, South Dakota, and Alaska are at the top of the list respectively.
The report assesses and breaks down five different taxes within each state. New York’s best rank was 24th, for corporate taxes with individual taxes as its worst ranking, dead last. The Empire State gets its 49th ranking when sales tax (43rd), property taxes (49th), and unemployment insurance taxes (40th) are factored into the overall data.
Among its neighboring northeast states, New York is fifth out of six in the rankings with Pennsylvania (33rd), Massachusetts (34th), Vermont (44th), and Connecticut (47th) ahead of them.
Since 2014, New York State’s highest ranking on the yearly data report was 48th, while ranking dead last three times and at 49 six different times.