For business owners looking to expand or start a new business in Florida, you’re in luck. Home to warm weather and an even warmer business tax climate, Florida is ranked fourth in the country for best business tax rates, according to the Tax Foundation’s 2019 State Business Tax Climate Index.
Released annually, the index is a measure of state tax systems and how well they’re structured to help enable policymakers, business leader, and taxpayers to make decisions that may help their state’s economy.
Breaking down Florida’s tax climate, the Sunshine State ranked first for individual taxes, second for unemployment insurance taxes, sixth for corporate taxes, 11th for property taxes, and 22nd for sales taxes.
The ten best states tax rates include Wyoming, Alaska, South Dakota, Florida, Montana, New Hampshire, Oregon, Utah, Nevada, and Indiana.
The ten worst states for tax rates include Ohio, Minnesota, Louisiana, Iowa, Arkansas, District of Columbia, Connecticut, New York, California, and New Jersey.
Read more about the study here: https://statetaxindex.org/