Late October, the Tax Foundation released its 2020 State Business Tax Climate Index. New York was ranked second to last at No. 49.
Late October, the Tax Foundation released its 2020 State Business Tax Climate Index. New York was ranked second to last at No. 49—a one-spot drop from last year’s No. 48 rank.
“New York again ranking near the bottom nationally in terms of its business tax burden is the latest reminder that much work remains to make the Empire State more competitive and affordable for small businesses,” said NFIB’s New York State Director Greg Biryla in an interview with The Post-Journal. “Making the property tax cap permanent last year was an essential step to control the long-term growth of local property taxes, but continued action is clearly needed. New York should prioritize tax relief for small businesses on Main Street, which are most likely to reinvest in their growth, workforce, and communities.”
The top 10 states, according to the Tax Foundation, are Wyoming, South Dakota, Alaska, Florida, Montana, New Hampshire, Nevada, Oregon, Utah, and Indiana. The bottom 10 are Louisiana, Iowa, Maryland, Vermont, Minnesota, Arkansas, Connecticut, California, New York, and New Jersey.
