Utah ranks 10th for business tax climate

This is an archived article that was published on sltrib.com in 2012, and information in the article may be outdated. It is provided only for personal research purposes and may not be reprinted.

Utah has the 10th best business tax climate among the U.S. states, according to the Tax Foundation, a Washington-based watchdog group.

It said Wednesday the Beehive State ranks No. 3 for favorable property taxes; No. 5 for corporate taxes; No. 14 for individual income taxes; No. 22 for sales taxes; and No. 24 for unemployment taxes.

The five best states: 1, Wyoming; 2, South Dakota; 3, Nevada; 4, Alaska; and 5, Florida. The five lowest: 50, New Jersey; 49, New York; 48, California; 47, Vermont; and 46, Rhode Island.

The foundation maintains an index measuring how states' tax systems compare in promoting business competitiveness.

"Even in our global economy, a state's stiffest and most direct competition often comes from other states," Tax Foundation economist Mark Robyn said.

Lee Davidson