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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