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Finance & Accounting
If You Don’t Tax Them, They Will Come
By Kate Rogers
Published April 22, 2011
| FOXBusiness

Carol Long took advantage of her state's friendly business climate by opening up Parkway Restaurant in Rapid City, S.D., nearly 25 years ago -- and she hasn't looked back.

Aside from the physical beauty of Long's location, she appreciates the support she gets from her state's government as a small business owner.

"It's just a fair state with taxes," Long said. "Nobody has gotten the greedy end yet, I think that's why it’s a good place to live and work."

South Dakota has no income-based taxes, capital gains taxes or corporate income taxes, which is why it should come as no surprise that it was ranked as this year's best tax environment for small business owners, according to the Small Business & Entrepreneurship Council’s Business Tax Index for 2011.

The index, which ranks the 50 states plus the District of Columbia, pulls together 18 different tax measures and combines them into one tax score that allows them to be compared with one another. Among the taxes included are income, capital gains, property, death/inheritance, unemployment, and various consumption-based taxes, including state gas and diesel levies.


According to the 2011 index, the 10 best states for small businesses this year starting with the top were: South Dakota, Texas, Nevada, Wyoming, Washington, Florida, Alabama, Alaska, Ohio and Colorado.

The bottom 10 states, beginning with the worst  were:  the District of Columbia, Minnesota, New Jersey, New York, Iowa, Maine, California, Vermont, Hawaii and Rhode Island.

Read more: http://www.smallbusiness.foxbu...-come/#ixzz1KTncJE88

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