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Business tax climates in Missouri and Illinois decline
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- Greg Edwards
- Reporter- St. Louis Business Journal
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Missouri ranks 17th and Illinois 31st in business tax climate.
Both states are in decline. Missouri ranked 15th two years ago and 14th three years ago. Illinois ranked 28th two years ago and 16th three years ago.
"This year, Missouri policymakers passed an income tax reduction that phases down the top rate from 6 percent to 5.5 percent by 0.1 percent each year starting in 2017, dependent on a revenue trigger," the report said. "In 2011, Illinois sharply raised individual and corporate income taxes in an attempt to mitigate budget problems."
The best tax climates are in Wyoming, South Dakota and Nevada, according to the report. The worst are in New Jersey, New York and California.
The report is based on the states' corporate taxes, individual income taxes, sales taxes, unemployment insurance taxes and property taxes.
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