When it comes to regulations, Maryland small business owners have it pretty rough.
According a new report, “The 50-State Small Business Regulation Index,” Maryland’s regulations for small business owners rank No. 39 in the nation—just two spots ahead of New York, and one spot behind Illinois.
Released by the San Francisco-based Pacific Research Institute, the study examined 14 different variables, from unemployment insurance taxes to minimum wage laws.
“The purpose of the small business index is to create a benchmark that allows the comparison of regulatory burdens and to provide insights on how each state can enact pro-growth reforms,” said Dr. Wayne Winegarden, the report’s author.
Maryland’s highest individual ranking came with its No. 10 spot for its unemployment insurance costs. It’s worst marks came for not being a right-to-work state.