The 10 Best—and 10 Worst – States for Taxes

9:19 pm Estate Planning

Earlier this month, the Tax Foundation released its 2014 edition of the State Business Tax Climate Index, ranking each state based on five tax categories:  corporate taxes, individual income taxes, sales taxes, unemployment insurance taxes and property taxes.

The 10 best states for 2014 are:

1.  Wyoming
2.  South Dakota
3.  Nevada
4.  Alaska
5.  Florida
6.  Washington
7.  Montana
8.  New Hampshire
9.  Utah
10.  Indiana

The 10 worst states are:

41.  Maryland
42.  Connecticut
43.  Wisconsin
44.  North Carolina
45.  Vermont
46.  Rhode Island
47.  Minnesota
48.  California
49.  New Jersey
50.  New York

Here is a graphic of the overall state rankings:

2014 State Business Tax Climate Index The 10 Best—and 10 Worst – States for Taxes

California continues to rank as one of the 10 worst states for taxes, so if you are interested in learning more about avoiding taxes through estate planning and asset protection, contact our Newport Beach law firm.

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