titled “Best & Worst States for Small Business Taxes: State and Local Tax Burden Highest in Decades.”
This report — as the title implies — assessed each of the 50 states plus Washington D.C. on five metrics pertaining to small business taxes such as “Maximum corporate tax rate 2023″ and “Maximum unemployment tax rate 2023″ to see which were the friendliest to those looking to launch their own company.
Pennsylvania ranked 37th overall, meaning it was among the bottom 15 states least tax-friendly to start a small business.“The worst places for small business taxes are New Jersey, the District of Columbia, Minnesota, California and Massachusetts,” the study reads. “No. 48 California has the highest personal income tax rate in the U.S., at 12.3%, while No. 49 Minnesota has the highest corporate rate at 9.8%.
“Per capita property taxes are higher in the District of Columbia than anywhere else, followed by last-ranked New Jersey .”If you purchase a product or register for an account through one of the links on our site, we may receive compensation. By browsing this site, we may share your information with our social media partners in accordance with our