The Tax Foundation, which promotes pro-growth tax policies, is out with its ranking of the 50 states by how friendly they are to businesses (in terms of taxes). There are few surprises in terms of the highest tax states –- New York and New Jersey are #49 and #50, respectively –- but states in the Southeast aren’t exactly open armed for business, according to the Tax Foundation. Florida ranks 4th overall, but none of the other states in the region crack the top 10. North Carolina does best at #15, followed by Tennessee at #16 and Mississippi at #20.
Most surprising is that South Carolina ranks 36th overall; in recent years, the state has welcomed some big companies, such as Boeing and the Singapore-based tire manufacturer Giti. BMW’s 20-year old North American plant in Spartanburg is credited with having helped the Greenville area get through the 2008 recession. Since South Carolina is a right to work state –- that is, union membership is not compulsory in order to hold any jobs in the state -– the corporate in-flows likely have more to do with work regulations (and lower employment costs) than tax regulations.
Other Southeast states ranked as follows on the Tax Foundation’s list: Alabama #29, Virginia #30 and Georgia #39.
