United States

Georgia ranks 31st in annual tax climate ranking

(The Center Square) – Georgia finished 31st in a new study by the Tax Foundation showing which states are best at structuring their tax systems.

All 50 states tax private property and unemployment insurance, according to the foundation’s analysis, which is titled the “2021 State Business Tax Climate Index.” But several states do without certain major taxes, such as corporate income, individual income and sales.

Many of the highest-rated states lack one of these major taxes, although some states that levy all the major taxes had high scores. That’s because their tax structures feature low rates and are broadly levied, the foundation reports.

Georgia also ranked seventh for its corporate tax, 36th for individual income taxes, 27th for sales taxes and 24th in the property tax category.

The states at the bottom of the ranking tend to have complex, non-neutral systems for raising revenues, along with relatively high tax rates, according to the authors of the analysis.

How Well Is Your State Tax System Structured?

StateOverall RankCorporate TaxesIndividual TaxesSales TaxesProperty TaxesUnemployment Insurance TaxesWyoming11163929South Dakota211332042Alaska326152245Florida46121132Montana5212532820New Hampshire641914744Nevada725544547Utah8141023717Indiana9121520227North Carolina10416222610Texas11476353616Missouri123232487Delaware135042243Michigan142012103518Oregon15493841636Washington16406481819North Dakota17820291212Tennessee18248473326Kentucky191918132149Idaho2029269348Colorado211014363241West Virginia221728191028New Mexico239314119Arizona24221740118Wisconsin25303771735Virginia261635112746Pennsylvania274319171540Nebraska283221154111Maine29372284033Oklahoma30113339291Georgia31736272439Mississippi32132732375South Carolina33534313424Massachusetts343811124450Kansas353124373013Illinois363613384843Rhode Island373929254230Hawaii38184730925Ohio3942433466Iowa404640143837Alabama412330501914Louisiana42353249234Vermont434439164915Maryland443345184334Arkansas453441462523Minnesota464546283132Connecticut472744265022New York481548434538California492849451421New Jersey504850424631

* 1 is best; 50 is worst

Source: Tax Foundation

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