Another day, another study giving New Jersey’s business climate poor marks.
According to a November study by the non-partisan Tax Foundation, New Jersey’s business climate ranks No. 50 of 50.
New Jersey, according to the report’s authors, “is hampered by some of the highest property tax burdens in the country, is one of just two states to levy both an inheritance tax and an estate tax, and maintains some of the worst-structured individual income taxes in the country.”
The best states included No. 1 Wyoming, No. 2 South Dakota, No. 3 Alaska, No. 4 Florida, and No. 5 Nevada.
The best states tend to have no or few major taxes, including the corporate income tax, individual income tax, or the sales tax.
Joining California at the bottom of the survey are California, at No. 48, and New York, at No. 49.