New Study–WA One of ‘Least Business Friendly’ Tax States in US
The Tax Foundation has been compiling all sorts of tax and economic data about the United States nationally and in each state for decades. WA state continues to slide.
WA State drops 13 slots when it comes to business taxes
Economic experts often refer to states as being business tax-friendly, or un-friendly when it comes to economic conditions and development.
Since the 1930's the Tax Foundation has been tracking all sorts of tax and economic data about the US. Their latest study now ranks WA state 35th in the nation, one of the worst, when it comes to a business tax-friendly environment.
Last year, 2022, we were ranked 15th but that was before the Capital Gains tax kicked in. The State Business Tax Climate Index ranks according to individual, corporate, sales, property, and unemployment insurance taxes, and WA state landed just above the bottom ten.
We used to get high marks for not having a state income tax, but with the controversial Capital Gains tax (which the IRS says is an income tax and therefore violates the state constitution) WA state continues to slide.
The ten worst states included: (from 41 to 50)
The ten best were:
To see more of the report, click here.