Florida Ranks 5th in lowest Business Taxes

Florida’s got a better business tax climate than all but four other states. And not one of those four is east of the Mississippi or comes close to being a big population state.

Florida ranks fifth overall in the annual “state business tax climate index” – an annual analysis of the relative competitiveness of states based on their business tax structures. In fact, Florida has remained consistent at No. 5 on this index since at least 2006. Many other states vacillate in rank from year to year.

Business taxes:

How competitive is Florida?

State ranks in latest Tax Foundation analysis.

The best

1. South Dakota

2. Alaska

3. Wyoming

4. Nevada

5. Florida

The worst

46. Ohio

47. Connecticut

48. New Jersey

49. California

50. New York

Source: Tax Foundation 2011 State Business

The index is assembled by the Tax Foundation, a 73-year-old nonpartisan, educational organization in Washington, D.C. The foundation found that states that kept their taxes low, their systems simple and – this one likely comes as a surprise to many people – minimized tax incentives to lure businesses tend to benefit the most.

Saturday, October 30, 2010St Petersburg Times

In March 2012, Governor Rick Scott signed into law a number of additional new business tax cuts which are aimed at accelerating economic growth and development in Florida. In features broad cuts in the unemployment tax and targeted reductions for manufacturers. An improved environment for business will help the commercial real estate sector