New Jersey Ranked Dead Last for State Business Tax Climate

the staff of the Ridgewood blog

Ridgewood NJ, the Tax Foundation released it’s 2019 State Business Tax Climate Index which compares each state on over 100 variables including corporate, individual, property, and sales taxes to show how well states structure their tax systems and to provide a road map for improvement.

The modern market is characterized by mobile capital and labor, and evidence shows that states with the best tax systems will be the most competitive at attracting new business and generating economic and employment growth.

Once again New Jersey was ranked dead last of all 50 states.

Lawmakers need to remember two rules:
1. Taxes matter to business
2. States don’t enact tax changes in a vacuum

And unlike changes to a state’s health-care, transportation, or education systems, which can take decades to implement, changes to the tax code can quickly improve a state’s business tax climate.

The 10 best states in this year’s Index are:
1. Wyoming
2. Alaska
3. South Dakota
4. Florida
5. Montana
6. New Hampshire
7. Oregon
8. Utah
9. Nevada
10. Indiana
The 10 lowest-ranked, or worst, states in this year’s Index are:
41. Vermont
42. Ohio
43. Minnesota
44. Louisiana
45. Iowa
46. Arkansas
47. Connecticut
48. New York
49. California
50. New Jersey
How does your state rank?