The Ridgewood Blog Brings a Free Market Laissez-faire Point of View to Local, New Jersey State and National Issues.
the staff of the Ridgewood blog
Trenton NJ, the Tax Foundation’s State Business Tax Climate Index enables business leaders, government policymakers, and taxpayers to gauge how their states’ tax systems compare. While there are many ways to show how much is collected in taxes by state governments, the Index is designed to show how well states structure their tax systems and provides a road map for improvement.
Continue reading New Jersey Ranks Dead Last State Business Tax Climate
When it comes to real estate planning, you might be facing a bit of a challenge. This is an emotional phase of your life, so you’ll need to understand how to achieve these goals. Writing a will and making decisions about your inheritance is an important part of your financial plan and is just as crucial as pensions or making investments. To get the full scope on the importance of estate planning, this guide will give you reasons on why you should prepare for this early on.
Continue reading Understanding the Benefits of Estate Planning
picture Steven Sweeney and Vincent Prieto and the Trenton gang
September 29,2016
the staff of the Ridgewood blog
Ridgewood NJ, It’s that time of the year again! The Rax Foundation released their 2017 State Business Tax Climate Index, which allows you to compare you state’s business tax burden across 5 major categories and taking into account over 100 variables. New Jersey ranked dead last in business tax climate . The report credits Trenton leadership with, “some of the worst-structured individual income taxes in the country.”
This year, the states at the top of the pack are Wyoming (1), South Dakota (2), Alaska (3), Florida (4), Nevada (5), Montana (6), New Hampshire (7), Indiana (8), Utah (9), and Oregon (10).
The states at the bottom of the pack include Louisiana (41), Maryland (42), Connecticut (43), Rhode Island (44), Ohio (45), Minnesota (46), Vermont (47), California (48), New York (49), and New Jersey (50).
According to the Tax Foundation ;the states in the bottom 10 tend to have a number of shortcomings in common: complex, non-neutral taxes with comparatively high rates. New Jersey, for example, is hampered by some of the highest property tax burdens in the country, is one of just two states to levy both an inheritance tax and an estate tax, and maintains some of the worst-structured individual income taxes in the country.
See how your state ranks on the map below or by clicking the button at the bottom of this email for the full report: https://taxfoundation.org/article/2017-state-business-tax-climate-index?mc_cid=8afd5cb450&mc_eid=c834f22e2e
