Click For Photo: http://canadafreepress.com/images/uploads/grimes011218.jpg
More is never enough for California politicians, as evidenced by our highest-in-the-nation taxes. The once-Golden State of opportunity and innovation ranks 48th in the Tax Foundation’s 2018 State Business Tax Climate Index. Again. Back in 2012 I wrote about our lousy 48th ranking, and that was before Gov. Jerry Brown’s Proposition 30 passed, which dramatically increased sales and income taxes. And it was before the California Legislature passed yet another massive gas/diesel tax on the state’s drivers, making California’s the highest gas taxes in the nation.
Our neighboring states ranked far better in the 2018 State Business Tax Climate Index: Arizona ranked 21st. Nevada ranked 5th. Oregon ranked 10th.
Taxes - California
Why did they fare so much better in taxes than California?
The Index compares the states in five areas of taxation that impact business: corporate taxes; individual income taxes; sales taxes; unemployment insurance taxes; and taxes on property, including residential and commercial property.
California - Income - Taxes - Sales - Taxes
California ranked 50th on individual income taxes; 41st in sales taxes; 32nd in corporate taxes, 13th in property taxes (thank you Proposition 13); 13th in Unemployment insurance taxes.
Nevada ranked number 1 in individual income taxes because Nevada does not have an individual income tax. Right next door to 50th ranked California on income taxes is a state with no income tax.
Alaska - Florida - Nevada - South - Dakota
Alaska, Florida, Nevada, South Dakota and Wyoming all have no state income tax.
Nevada even ranked better than California in the property tax category at number 8, to California’s number 13 ranking—even with our Proposition 13.
Tax - Foundation - Notes - Trends - State
As the Tax Foundation notes in trends in state policy, four states cut corporate income taxes in 2017, and two states (Delaware and New Jersey) are in the process of repealing their estate taxes.States continue to reduce other taxes on capital as well, with New York continuing a multiyear phaseout of its capital stock tax and Mississippi about...
Wake Up To Breaking News!