New York is next to last in an annual ranking of states with business-friendly tax policies, according to a report available on www.bizjournals.com Wednesday.
The Oct. 6 study by The Tax Foundation, a conservative-leaning research group in Washington, D.C., found that New York has the second-worst "business tax climate" in the nation. The state dropped to 49th from 47th from the previous year's report.
According to the tax organization, New Jersey has the worst tax situation, while Wyoming has the best.
The annual study ranks states on five tax rates: personal income, corporate, property, sales and unemployment insurance.
New York's best score came in the corporate tax category, where it ranked 22nd. Its worst score came in the sales tax category, where it ranked 49th.
California, Ohio and Rhode Island rounded out the bottom five.
Source:Xinhua
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