Connecticut’s Tax Woes Continue As Small Business Calls For Less Talk And More Action
HARTFORD (October 28, 2014): Today the National Federation of Independent Business (NFIB) is disappointed, but not surprised, to learn that Connecticut remains in the bottom 10 of the Tax Foundation’s Tax Climate Index. The Tax Climate Index enables business leaders, government policymakers, and taxpayers to gauge how their tax systems compare to other states.
“Connecticut business owners are certainly not strangers to a complex and exhaustive state tax system and The Tax Foundation’s assessment is mirroring what they experience every day.” Said NFIB/Connecticut State Director Andrew Markowski. “The legislature has created a hostile environment for small business by overly taxing and regulating the job creators of our state and its time for sweeping change in Hartford. Hopefully, this report is a wake up call not only for the legislature and the administration, but also to the recently convened state tax review panel. Small businesses need real tax reform, not just a panel thrown together to make idol recommendations.”
Businesses tend to locate where the competitive advantage is greatest, according to the Tax Foundations data. A state improving their overall tax system will attract new business and generate economic growth as well as employment opportunity.