New Jersey has once again come in dead last among the states, according to a ranking of its business-tax climate by an influential conservative think tank.
The Garden State is “hampered by some of the highest property tax burdens in the country, has the second highest-rate corporate income tax in the country and a particularly aggressive treatment of international income, levies an inheritance tax, and maintains some of the nation’s worst-structured individual income taxes,” according to a 2020 assessment by the Tax Foundation.
Runners-up to New Jersey include New York, California, Connecticut and Arkansas.
The Washington D.C. foundation put Wyoming in the top spot in its survey, followed by South Dakota, Alaska, Florida and Montana.
The Tax Foundation, which has ranked New Jersey last in each of its last five surveys, says its index “is designed to show how well states structure their tax systems and provides a road map for improvement.”