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States and Their Taxes

When it comes to taxes each state is extremely unique. Some have stricter taxes than others while some have preferably looser taxes that has a lot of wiggle room.

Below is a heat map that has all the states and their corporate tax attached with it.

The darker the state the higher the corporate tax as of 2022.

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1.Wyoming 

  • Corporate tax rank: 1 (no income tax levied)

  • Individual income tax rank: 1 (no income tax levied)

  • Sales tax: 4% 6th in US

  • Property tax rank: 9.5% 39th in US

  • Unemployment tax rank: 8.5% max 27th in US

 

4. Florida 

  • Corporate tax rank: 5.5% 9th

  • Individual income tax rank: 1 (no income tax levied)

  • Sales tax rank: 6% 17th

  • Property tax rank: 0.91% 26th

  • Unemployment tax rank: 2

2. South Dakota

  • Corporate tax rank: 1 (no income tax levied)

  • Individual income tax rank: 1 (no income tax levied)

  • Sales tax rank: 4.5% 35th

  • Property tax rank: (no property tax)22

  • Unemployment tax rank: 1.2% (first year) 44th

5. Montana 

  • Corporate tax rank:6.75% 5th

  • Individual income tax rank: 6.75% 25th

  • Sales tax rank: 1(no sales tax )

  • Property tax rank: 12

  • Unemployment tax rank: 20

3. Alaska 

  • Corporate tax rank: 9.4% 3rd

  • Individual income tax rank: 1 (no income tax levied)

  • Sales tax rank:1.76% 5th

  • Property tax rank: 1.04% 21st

  • Unemployment insurance tax rank: 43rd

Top 5 States for Best Small Business Taxes

Top 5 Worst States For Small Business Taxes

1. New Jersey

  • Corporate tax rank: 9% 49th

  • Individual income tax rank: 50

  • Sales tax rank: 42

  • Property tax rank: 47

  • Unemployment tax rank: 30

 

3. California 

  • Corporate tax rank: 8.84% 28th

  • Individual income tax rank: 49

  • Sales tax rank: 45

  • Property tax rank: 16

  • Unemployment tax rank: 22

2. New York 

  • Corporate tax rank: 6.5% 13th

  • Individual income tax rank: 48

  • Sales tax rank: 43

  • Property tax rank: 46

  • Unemployment tax rank: 38

 

4. Connecticut 

  • Corporate tax rank: 9% 27th 

  • Individual income tax rank: 43

  • Sales tax rank: 26

  • Property tax rank: 50

  • Unemployment tax rank: 21

5. Arkansas 

  • Corporate tax rank: 6.5% 34th

  • Individual income tax rank: 40

  • Sales tax rank: 46

  • Property tax rank: 29

  • Unemployment tax rank: 23

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