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2009 Tax Watch 1 (2009)

handle is hein.taxfoundation/taxwtch0006 and id is 1 raw text is: FOUNDATION M e ss age f ro m the President Small Business Tax Hike May Be on the Way America's Highest Property Taxes New Jersey and New York ' KPMG Study Warns of Hogh U.S. Corporate Taxeso New Book.: The End of Prosperity Media Impact Report;° State Policy Report . Help Support Sound Tax Policy I According to this year's ranking, Wyoming boasts the nation's simplest and best-designed business tax system. They're followed closely by the high- quality tax systems in South Dakota, Nevada, Alaska and Florida. In contrast, the nations most poorly designed business tax system is found ............... ..........:::!::i i s{!i~ilk w d r N w , k ........i::::i::{:iii......................... .::. - v~ loxwed by Nexv York, California, Ohio ri and Rhode Island. According to the study, law makers who ignore the impact of business Sxes on their state's economy do so at their own peril. 'Studies have shown for decades that companies flee areas where they face competitive disadvantages, said Tax Foundation economist Joshua Barro, author of the new study In a slowing economy, heavy taxes and regulations are an especially harmful disadvantage. States with good tax systems are best positioned to weather the economic slowdown and preserve their employment base. The Tax Foundation's Index ranks states based on taxes that matter most to business investment: corporate taxes, With the American economy slowing, lawmakers are scrambling for ways to restore confidence and boost markets. But one obvious way to improve economic perf~ormance is mostly being overlooked-reforming America's complex and punitive business taxes. T h r o u g h o u t t h N iiiiiiiiii~ iiiiiiiiiii.................................................................................iiiiiiiiiiii.iii......... d iff eren ces in th e....................................... ..............................................................................iiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiii i i~ iiiiiiii ii:il n e s s o i[........................................... S o m e sta te s ta x........................................ :::::::::::::the:...................................................................................................................::::::: .....................i................................... an d sim p ly -- allo w -......................... swampcompnies i~i~~i~ii~.............................i~ii:::............... ..................................n.. ........................................ning ......... ........ .... ...o....... ........ ... . . . . . sta ts th e U .Sa r e co n o m y......................................................... .. recession, now...........s..the. time.....to . reexamine. .... America's business taxes, said Scott A........................ Hedge, President of the 7 ...............x..Foundation............ Which state taxes are best and worst for........................... business ? The answer comes from the............................ %x Foundtion's.2...S.ate ..si. es Tax C....te.......The .. ....ranks.ho businessfriendl the .5..t..e....syste. ........... ........... ............... m .... s ........ ........ ........ ......x . ........ ....... during..n...tain.....omic..i.es. Recessi HIU05 L it Cn Rf rm ! Baf~usiness la(xes B ost t eEcoomy