CT now ranks dead last in property taxes. In 5 other measured areas CT ranks in the lower half in all but one are when compared to other states, and in the one area it isn’t in the lower half it’s ranked 25th. It has not improved its ranking in any area of taxation when compared with its 2011 rankings.
In overall business tax climate CT ranks 40th overall, 11th worst, while New Jersey and New York have the worst tax climates in the nation for business, according to a new report by the Tax Foundation,a Washington, D.C.-based research firm.
Two other Northeastern states, Vermont and Rhode Island, also scored poorly. Vermont was ranked as fourth-worst state and Rhode Island was fifth-worst.
The Tax Foundation’s “State Business Tax Climate Index” compares the 50 states in five areas of taxation that impact business: corporate taxes; individual income taxes; sales taxes; unemployment insurance taxes; and taxes on property, including residential and commercial property.
Read the entire report at the Tax Foundation’s website.