Scarinci Hollenbeck, LLC
The Firm
201-896-4100 info@sh-law.comFirm Insights
Author: Scarinci Hollenbeck, LLC
Date: November 3, 2014
The Firm
201-896-4100 info@sh-law.comThe Tax Foundation, a think tank that tracks taxation issues, has released its latest ranking of states by business tax climate.
According to the Tax Foundation, Wyoming is the most favorable state in which to do business. This was followed by South Dakota, Nevada, Alaska and Florida to round out the top five. The organization stated that among its top states, the absence of a major tax is a common factor. Wyoming, Nevada and South Dakota, for example, have no corporate or individual income tax. Those that did levy all of the major taxes on the top ten list did so at a low rate.
The least favorably ranked states suffered from “complex, non-neutral taxes with comparatively high rates,” according to the foundation. Topping the nclist was New Jersey, followed by New York, California, Minnesota and Vermont.
Nominally, the Tax Foundation is non-partisan, but many have criticized the organization as having a conservative bias. Its rankings have a tendency to vary more wildly from year to year than tax laws in those states, and some have suggested that the rankings in the state seem to have less to do with
Analysis conducted by Governing found that there was virtually no correlation between the employment-to-population ratio in a state and the business tax climate score. Similarly, there was a slight negative correlation between a state’s median annual wage and business tax climate score, meaning that residents of states with more favorable business climates were slightly more likely to make less money in a year.
What is clear is that taxation issues aren’t the only factor in determining the prosperity of a state. As economic issues becomes increasingly important to the American populous, many will pay attention to how these states do relative to their index scores.
No Aspect of the advertisement has been approved by the Supreme Court. Results may vary depending on your particular facts and legal circumstances.
Secured transactions form the backbone of a wide range of business dealings, including business loans, mortgages, and inventory financing. Because the stakes are often high and relatively minor oversights can have drastic consequences, lenders and borrowers should thoroughly understand how to form an enforceable security agreement that protects their legal rights. What Is a Secured […]
Author: Dan Brecher
Cashing a check marked “paid in full” can be a risky endeavor, particularly if you don’t fully understanding the legal implications. If you are owed more than the amount of the check you accept and deposit, you may waive your right to collect the full disputed amount. That is why you should consider either rejecting […]
Author: Dan Brecher
The One Big Beautiful Bill Act of 2025 (OBBBA) significantly impacts federal taxes, credits, and deductions. A key change relating to Qualified Small Business Stock (QSBS) allows greater tax-free gains for investments in startups and other qualifying small businesses. Company founders and other investors should understand how the enhanced tax strategy works or risk missing […]
Author: Dan Brecher
Corporate consolidation involves two or more businesses merging to become a single larger entity. The result is often a stronger and more competitive company that can better navigate today’s competitive marketplace. What Is Corporate Consolidation? Corporate consolidation closely resembles a basic merger transaction. The primary difference is that a consolidation creates an entirely new business […]
Author: Dan Brecher
Business law plays a critical role in nearly every aspect of running a successful enterprise, from negotiating a commercial lease to drafting employee policies to fulfilling corporate disclosure obligations. Understanding what is business law and your legal obligations can help your business run smoothly and build productive relationships with clients, business partners, regulators, and others. […]
Author: Dan Brecher
Corporate transactions can have significant implications for a corporation and its stakeholders. For deals to be successful, companies must act strategically to maximize value and minimize risk. It is also important to fully understand the legal and financial ramifications of corporate transactions, both in the near and long term. Understanding Corporate Transactions The term “corporate […]
Author: Dan Brecher
No Aspect of the advertisement has been approved by the Supreme Court. Results may vary depending on your particular facts and legal circumstances.
Consider subscribing to our Firm Insights mailing list by clicking the button below so you can keep up to date with the firm`s latest articles covering various legal topics.
Stay informed and inspired with the latest updates, insights, and events from Scarinci Hollenbeck. Our resource library provides valuable content across a range of categories to keep you connected and ahead of the curve.
Let`s get in touch!
Sign up to get the latest from the Scarinci Hollenbeck, LLC attorneys!