The Keystone State ranked 29th out of 51 jurisdictions in the Small Business and Entrepreneurship Council’s (SBEC) Business Tax Index for 2009, a score that would have been better if it didn’t have the nation’s highest state corporate tax rate.
The SBEC annually assesses the tax climates for business and entrepreneurs in the 50 states and the District of Columbia.
Only D.C. has a corporate tax rate higher than Pennsylvania’s.
The index includes rankings of the top personal in each state (Pennsylvania is 11th at 3.07%) and the top individual capital gains tax rates (13th at 3.07%).
Also rated are top corporate income tax rates (Pennsylvania is last at 9.9%), top corporate capital gains tax rates (also last at 9.9%) and sales, gross receipts and excise taxes as a share of personal income (11th at 2.67%).
Other factors include unemployment tax rates as a share of state average pay (Pennsylvania ranks 22nd at 1.63%), state gas taxes (42nd at 32.3 cents per gallon) and diesel taxes (tied for 46th with California at 39.2 cents per gallon).
Like what you've read? ...Republish it and share great business tips!
Attention: Readers, Publishers, Editors, Bloggers, Media, Webmasters and more...
We believe great content should be read and passed around. After all, knowledge IS power. And good business can become great with the right information at their fingertips. If you'd like to share any of the insightful articles on BusinessManagementDaily.com, you may republish or syndicate it without charge.
The only thing we ask is that you keep the article exactly as it was written and formatted. You also need to include an attribution statement and link to the article.
" This information is proudly provided by Business Management Daily.com: http://www.businessmanagementdaily.com/9512/pennsylvania-has-highest-state-corporate-tax-rates "