Budget Watch - Florida's Business Tax Climate Judged to be the Nation's 5th Best

A new report by the Tax Foundation evaluates the tax structures of the 50 states and compares them relative to their effect on each state’s business climate. The 2015 Business Tax Climate Index looks at five major tax areas: corporate income taxes, personal income taxes, sales taxes, property taxes and unemployment insurance taxes. The Index evaluates more than 100 variables in these areas to develop scores for each state ranging from 0 (worst) to 10 (best).

Instead of simply comparing how much in taxes each state collects, the report gauges how states structure their tax systems. Generally, the Index favors states that have simple tax structures with low rates and broad bases.

The five tax categories are weighted differently (see chart below). The more variation between state scores, the greater the weight of that category. The report points to evidence that shows that states with the best tax systems will be the most competitive in attracting business investment and fostering economic growth. The report offers the findings to provide a roadmap for improving these tax systems.

Florida fares well in the Index, receiving a score of 6.91, which is the 5th best in the nation. Wyoming is the highest-ranked state with a score of 7.58. The lowest score belongs to New Jersey at 3.43. The other states in the top five are South Dakota, Nevada, and Alaska.

Documents to download

Previous Article Florida the Most Veteran-Friendly State
Next Article Time for Telehealth
Print
2529
0Upvote 0Downvote
«July 2025»
MonTueWedThuFriSatSun
30123456
78
The Potential Impacts of New Tariffs on Florida’s Economy

The Potential Impacts of New Tariffs on Florida’s Economy

On April 2nd, 2025, a universal 10 percent tariff on all countries was announced by the federal government, with a few countries facing additional reciprocal tariffs of up to 50 percent. A week after the announcement, due to intense volatility in the bond market, a 90-day suspension on the tariffs was announced, with the exception of a 145 percent tariff on certain Chinese goods.

 

Read more
910
How Childcare Costs Impact Florida’s Economy

How Childcare Costs Impact Florida’s Economy

The impact of childcare, as the data suggest, is prominent on Florida’s economy. Losses incurred from turnover and absenteeism of working parents can be avoided with friendlier workplace policies and higher investment in affordable childcare. As an important part of the industry, treating childcare workers better financially can help maintain the workforce in childcare and add to the economy of Florida. Impactful measures that can alleviate the pressing childcare issues mentioned can further grow Florida’s economy.

Read more
111213
14151617181920
21222324252627
28293031123
45678910

Archive