Missouri's tax climate ranks No. 15

St. Louis Business Journal

Missouri has the 15th best tax climate in the country, according to a study released Oct. 8 by the Tax Foundation of Washington, D.C.

According to the foundation's State Business Tax Climate Index for fiscal 2008, Wyoming, South Dakota and Nevada had the nation's best tax climates while Rhode Island, New Jersey and New York had the worst. According to the foundation, the index considers a state's corporate tax rate, individual income tax, sales tax, unemployment insurance tax and property tax.

Missouri's corporate tax index ranked No. 10; its property tax index ranked No. 9; and its unemployment insurance tax index ranked No. 4 in the nation. Missouri's individual income tax index ranked No. 23 and its sales tax index ranked No. 22.

"States with the best tax systems will be most competitive in attracting new businesses and be the most effective at generating economic and employment growth," wrote the study's authors.