Wednesday, April 15, 2009

Report: Ohio Tax Climate In Top 10 For Small Biz

Ohio has become one of the top 10 best places to run a small business in the US, claims the Dayton Business Journal. You can find a snippet of their post below, but the full article can be read here.

Ohio has climbed into the top 10 of an annual ranking of states with tax climates a business advocacy group considers friendly to small companies and entrepreneurs.

The Small Business and Entrepreneurship Council in its Business Tax Index 2009 ranked the state 10th based on 16 various tax measures combined into a single score. Those measures include a state’s top personal income tax rate and capital gains tax rate along with its sales, unemployment, gasoline and property taxes.

Ohio was ranked 14th on the council’s list a year ago.

Topping the list this year was South Dakota, followed by Nevada, Wyoming, Washington and Texas. The study considered the District of Columbia’s tax climate the unfriendliest to small business. It was followed by New Jersey, Minnesota, Maine, California and New York state.

Ohio fared best in the report’s look at states’ top corporate capital gains tax rates and corporate income tax rates, ranking sixth in both measures. A breakdown of states’ gasoline taxes was the state’s worst showing, Ohio ranking in the bottom 20 for its levy of 28 cents a gallon.

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