posted on October 09, 2013 12:57
For the second year in a row, the Empire State has been dubbed as having the worst business climate in the nation.
That’s according to a business-backed group in Washington DC, The Tax Foundation. It found that New York and New Jersey are “in a virtual tie for last place,” while California ranked 48th.
The report examines corporate, property and income taxes as well as unemployment insurance costs. It says states in the bottom 10 share the same problems: “complex, non-neutral taxes with comparatively high rates.”
New York has been trying to combat the reputation. In 2011 it instituted a property-tax cap and this year Governor Cuomo proposed creating tax-free zones around SUNY campuses and named a committee to address lowering taxes.