Study: North Carolina has 15th worst business tax environment

The Triangle Business Journal reports on the findings of a new study that says North Carolina is the fifteenth worst state to do business in regards to tax environment in the country. Years of Democratic control of state government with liberal tax-and-spend policies dominating the debate has cost North Carolina jobs and harmed homegrown small businesses.

North Carolina has one of the 15 worst tax environments for small businesses in the country and the worst in the South, the Washington, D.C.-based Small Business & Entrepreneurship Council says in a report released Tuesday.

The Business Tax Index 2010 lumps North Carolina in with the likes of New York, California, New Jersey and Massachusetts due to the Tar Heel State’s relatively high tax rates on personal income and corporate profits. North Carolina also was penalized for having unemployment and gasoline taxes higher than most states. …

North Carolina’s neighbors fared much better in the rankings, which assesses 16 different tax measures and combines those into one tax score that allows the 50 states and District of Columbia to be compared. South Carolina placed 12th in the rankings with a score of 29.646. Tennessee followed in the 13th spot with a score of 30.858, and Virginia wasn’t far behind, landing at No. 15 with a score of 32.393.

In comparison, North Carolina’s score was 42.473, the 15th highest on the list.

Click here to read the full article from the Triangle Business Journal…

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