California ranks near the bottom of the nation in economic outlook, according to a new report. The news comes as no surprise to small business owners across the state.
The American Legislative Exchange Council’s annual “Rich States, Poor States” report ranked California No. 44 in the nation for economic outlook, a forward-looking forecast comprising 15 different economic measures.
Among the state’s lowest indicators: Top marginal personal income tax rate of 13.30 percent; personal income tax progressivity of $38.34 per $1,000 of personal income; average workers’ compensation costs of $3.48 per $100 of payroll; and not being a right-to-work state.
Among the only bright spots: California doesn’t levy an inheritance tax.
