Report Released: Best and Worst States for Taxes

The Tax Foundation has released their Business Tax Climate Index for 2010. This report compares all states Business Tax, Income Tax, Corporate Tax and Sales tax.

Among the worst is NJ and NY, NJ ranking at 50 for Business Tax and NY ranking in at 49, which fell from last year’s 48. In the number 1 spot for best is South Dakota, stealing that spot from Wyoming which fell to the number 2 spot.

Income Tax report says NY is the worst, ranking 50th place, while Alaska, Nevada, Wyoming, Florida, South Dakota and Washington all tying in first place for best state. Washington ranking worst in Sales tax while Delaware ranks best.

This report doesn’t just outline the ranks and numbers, it also gives basic tax laws to help businesses and individuals make a tax analysis in order to help them better understand the policies and procedures. Also hands analysts and journalists a view of current conditions to make informed analysis and future predictions.