How does our state’s tax system compare to other states? While we’d like to be Number One, Texas ranks 11th in the Tax Foundations State Business Tax Climate Index. While we have no business (or personal) income tax, Texas does impose a gross receipts tax on businesses. The Tax Foundation compares the states in five areas of taxation that impact business: corporate taxes, individual income taxes, sales taxes, unemployment insurance taxes, and taxes on property, including residential and commercial property. The ranks of neighboring states are as follows: New Mexico, 38th, Oklahoma, 36th, Arkansas, 35th, and Louisiana, 33rd.
Posted on: Thu, 10 Apr 2014 22:57:20 +0000
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