KGMI News Reporting
By Karen Taylor
WASHINGTON STATE – Washington state ranks in the top ten states with the best tax climate for businesses.
In a study done by the Tax Foundation, Washington ranks sixth on the State Business Tax Climate Index.
Study co-author Scott Drenkard says the index measures how well state taxes are structured for businesses.
He says Washington could rank higher if the state replaced the B&O tax with the corporate income tax.
Washington is one of only four states with a B&O tax.
Wyoming, South Dakota, Nevada, Alaska and Florida ranked above Washington on the state business tax climate index.
California, New Jersey and New York came in last.