According to the Tax Foundation, the 10 most business-friendly states in 2017 all have one thing in common: they’ve done away with one or more major taxes.
Veterinary practice owners are all too familiar with how a state’s tax climate can affect running a business. And so are the analysts at the Tax Foundation, a nonprofit, nonpartisan tax research organization based in Washington, DC. They’ve been at it since 1937.
Each year, the Tax Foundation provides an index of how favorable tax climates are for businesses on a state-by-state level.
The system is designed to show how well states structure their tax systems, and the rankings provide a roadmap for improvement in each state.
According to Tax Foundation, the 10 most business-friendly states in 2017 all have one thing in common: They’ve done away with one or more of the major taxes, which, according to the foundation, include corporate income, individual income, and sales tax.
Here’s where the top 10 states rank.
7. New Hampshire
2. South Dakota