California Is Not Business-friendly
The top ten most business-friendly states this year in regards to tax policies were South Dakota, Florida, Alaska, Texas, New Hampshire, Nevada, Wyoming, Colorado, Washington, and Oregon. Several of these states happen to be California's neighbors. California ranked a low 38th in this list, putting that state at a huge disadvantage with just about every state in the western United States. The main reason for this is California's gigantic 8.8 percent corporate income tax which is the highest in the western region of the country. Short-term tax lures are a good ploy for political figures to attempt to "create" jobs. But what really needs to be done is California's tax codes must be changed to be permanently business-friendly to both existing and new-coming employers. Can you really blame California companies for taking their businesses elsewhere? Why stay in a tax crazy state when you could save twice the amount on taxes in the neighboring state? Maybe somebody should recommend to the terminator that he create a more neutral tax code before every business flees the unfriendly state.
Posted by Jones at 2/28/2005 02:24:00 PM