Union Leader: NH ranked 8th for business taxes, 48th for corporate taxes
WASHINGTON — New Hampshire landed in the top 10, at No. 8, among the best states for taxes on business, though it ranks near the bottom, at 48, in the nation for corporate taxes, according to the newest edition of the Tax Foundation’s State Business Tax Climate Index.
The other top 10 states in 2014 are Wyoming (1), South Dakota (2), Nevada (3), Alaska (4), Florida (5), Washington (6), Montana (7), Utah (9) and Indiana (10).
The nonpartisan group collects data on more than a hundred tax provisions for each state and synthesizes them into a single, score. A state’s ranking can rise or fall significantly based not just on its own actions, but on the changes or reforms made by other states.
The Granite State’s poor showing among other states for its corporate tax rate prompted Republican leaders and conservative groups such as Americans for Prosperity to issue statements.
“As a business owner and legislator, it’s disappointing to see our state continue to wallow at the bottom of the list and have some of the highest business taxes in the nation,” House Republican Policy Leader Rep. Laurie Sanborn, R-Bedford, said in a news release.