Nevada said to have nation’s No. 3 tax climate for business
Nevada has the nation's third-best tax climate for businesses, according to a study released Thursday.
In its 2012 State Business Tax Climate Index, the Tax Foundation, a nonpartisan tax research group based in Washington, D.C., gave the Silver State the nod for its lack of corporate and personal income taxes.
However, the report also noted that Nevada has the eighth-highest sales taxes and eighth-highest workers' compensation levies in the nation. Nevada ranked No. 16 for its property taxes.
Only Wyoming and South Dakota ranked ahead of Nevada in the overall ratings. Alaska and Florida rounded out the top five.
California came in at No. 48, while New Jersey, which has higher-than-average income taxes, sales taxes and property taxes, ranked last.
Nevada moved up a spot from 2011, when it ranked No. 4.
"The lesson is simple: A state that raises sufficient revenue without one of the major taxes will, all things being equal, have an advantage over those states that levy every tax in the state tax collector's arsenal," the foundation said in a statement.
Contact reporter Jennifer Robison at jrobison@reviewjournal.com or 702-380-4512.
