One factor a business will consider when locating/relocating to a particular state is whether or not a state's tax policies are favorable for business growth. One aspect of this evaluation is the share of revenue a state derives from corporations. The Tax Foundation recently prepared a summary by state on the importance a state places on various revenue sources. Below is a map of corporate tax revenue as a percentage of all state/local tax revenue. Also included in the Tax Foundation report is a similar breakdown on property tax revenue, sales tax revenue and personal income tax revenue.
|From The Blog of HORAN Capital Advisors|
Source: Tax Foundation
With all the discussion about the need for more revenues by government entities, companies are likely to pay a great deal more attention to individual state tax policies.