Missouri’s business tax climate once again held steady according to the Tax Foundation’s 2015 State Business Tax Climate Index, ranking 17th best overall. Missouri also ranked 4th best for corporate taxes, jumping ahead three spots from last year, and 7th best for property taxes.
“The evidence shows that states with the best tax systems will be the most competitive at attracting new businesses and most effective at generating economic and employment growth,” the Tax Foundation stated in the report.
The Show-Me state came out ahead of all its Midwest neighbors, with the exception of Tennessee.
The Tax Foundation’s annual State Business Tax Climate Index is designed to enable business leaders, government policymakers and taxpayers to gauge how their states’ tax systems compare. The Index is determined by five components: individual income tax; sales tax; corporate income tax; property tax; and unemployment insurance tax.
The Tax Foundation, a non-partisan research think tank based in Washington, D.C., is the nation’s leading independent tax policy research organization.