The Tax Foundation has releases its Business Climate Index and, amazingly enough, Illinois is not at the bottom end.
Illinois ranks 29th.
Details here.
The 10 lowest ranked, or worst, states in this year’s Index are:
- Rhode Island
- Louisiana
- Maryland
- Connecticut
- Ohio
- Minnesota
- Vermont
- California
- New York
- New Jersey
Still a relatively low income tax, and a flat one.
I think 12 states have higher sales taxes, though our score looks worse when you factor in local sales taxes.
Illinois has the controversial EDGE tax credits and we’re notorious for offering large companies hundreds of millions to billions of dollars in tax credits or flat out subsidies.
Recently, we’ve expanded enterprise zones too.
Sorry, Joe
We have among the highest property taxes (property confiscation taxes) in the country. We also have the highest sales taxes, although some cities are higher.
We have an average Income tax rate.
Add it together we are with new Jersey and Connecticut as the highest taxing states.
That’s because there’s such little business left.