 |
High sales taxes, complex code causes Louisiana to slip in national tax ranking
Source:
nola.com
- Oct 28, 2013
By Lauren McGaughy, NOLA.com | The Times Picayune
Louisiana's individual income, property and corporate tax rates have relatively favorable rates compared to other states, but the complexity of its tax code and high sales taxes are bad for business, according to this year's State Business Tax Climate Index.
The annual index ranks each state based on its corporate, individual income, sales, unemployment insurance and property tax rates. This year, the D.C.-based think tank the Tax Foundation ranked Louisiana at number 33 overall, one spot below where it sat in 2012.
Each category is not given equal weight, however, with individual income tax given the most at more than 32 percent of each state's grade; unemployment insurance tax gets the lowest at 11.5 percent.
A key reason for Louisiana's middling rank is the state's high sales tax rates, which accounts for 21.5 percent of the state's grade.
TO READ MORE, CLICK ON SOURCE LINK ABOVE
Category: General Business
|
