Florida has Fourth-Friendliest Tax Climate

Florida's tax climate is the fourth best in the nation for businesses, according to the Tax Foundation's 2006 State Business Tax Climate Index, up from seventh place in 2003.

The ranking is a good marketing tool for Florida, as a business-friendly tax environment is becoming more important to companies looking to relocate, according to Tax Foundation officials.

States were evaluated by the number and types of taxes levied on resident businesses. Tax Foundation economist Curtis Dubay said the states with the best tax systems raise revenue without imposing one of three state taxes -- sales tax, personal income tax or corporate income tax.

Wyoming had the friendliest tax climate followed by South Dakota, Alaska, Florida and Nevada. New York was the most hostile, joined by New Jersey, Rhode Island, Ohio, Vermont and Maine.

The Tax Foundation is a nonpartisan organization aimed at educating the public about sound tax practices.

Source: Jacksonville Business Journal