Bacon's Rebellion

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The New Business Tax Climate Index Is In, And…

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by

James A. Bacon
in

This just in: Virginia’s position in the Tax Foundation’s 2019 Business Tax Climate Index… 22nd in the country.

The Old Dominion scores pretty well on corporate taxes (10th) and sales taxes (10th), but poorly on property taxes (30th), individual taxes (35th), and unemployment insurance taxes (43rd).

If it’s any consolation, our neighbors to the north, Maryland and Washington, D.C., rank 40th and 46th respectively, which puts Northern Virginia in a superior competitive position. But our neighbors to the south, North Carolina and Tennessee, rank 12th and 16th respectively — bad news for the Rest of Virginia.

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4 responses to “The New Business Tax Climate Index Is In, And…”

  1. LarrytheG Avatar
    LarrytheG

    well.. “climate” versus actual performance which doesn’t exactly match up!

    https://upload.wikimedia.org/wikipedia/commons/6/66/United_States_GDP_by_States.png

    How can it be that California is rated so poorly for “climate” but performs so well in reality”

    Virginia also – is punching above it’s “climate” ranking!!

    1. Izzo Avatar
      Izzo

      How can it be that California is rated so poorly for “climate” but performs so well in reality”

      Having a lot of people = doing well in reality? India is crushing it . . .

      1. TooManyTaxes Avatar
        TooManyTaxes

        And yet a study was released where California has the highest poverty rate in the Nation. https://thehill.com/policy/finance/406595-california-has-highest-poverty-rate-in-us-feds Of course, being a Sanctuary State, California imports poverty at a very high rate.

        I suspect that when a company reaches a certain size, most especially as to revenue, taxes don’t matter and/or the company winds up paying taxes at a much lower rate than its public image suggests.

        I also suspect that a lot of business owners have left California over the last several decades.

  2. Steve Haner Avatar
    Steve Haner

    Hmmm. Looking at the other times you’ve reported on this (linked by the computer) we are up 9 points from last year (31st), up five points from four years ago (27th). And they ding us on unemployment taxes, where the basics are nationwide and dictated by the fed and I’m unaware of anything basic in that system which has changed. Rather volatile when little has changed.

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