September 23, 2009
Maine improves tax climate ranking
By The Mainebiz News Staff
Maine improved its ranking in the Tax Foundation's annual study of state tax systems in the country, dropping from 40th to 34th place.
The "2009 State Businesses Tax Climate Index" measures the competitiveness of states' business tax climate by considering the corporate income tax, individual income tax, sales tax, property tax and unemployment insurance tax in each state. South Dakota had the most business-friendly tax system, while New Jersey has the least, according to the study.
Maine's worst ranking in the five component indices came in corporate income tax, where it ranked 43rd out of 50. Maine's best ranking came in sales tax, where it ranked 6th out of 50.
Go to the Tax Foundation report >>
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