Alaska: One of Best States for Business Tax Climate
ANCHORAGE - Alaska is one of the most business-friendly states for taxes, according to a new Tax Foundation report released this week. The Tax Foundation, a non-partisan group based in Washington, DC, compiles the index every year to help states gauge how well their tax systems are working and which states are the most hospitable to business and economic growth.
“This report confirms that Alaska is a good place to do business,” said Senator Bill Wielechowski. “It’s more desirable to do business in Alaska than in 45 other states, plus the District of Columbia.”
The Tax Foundation compares states using 118 different variables in five important areas of taxation (major business taxes, individual income taxes, sales taxes, unemployment insurance taxes, and property taxes) and then combines the results for an overall ranking. The approach has the advantage of rewarding states on particularly strong aspects of their tax structures while also measuring the general competitiveness of their overall tax systems.
“We should always be looking for ways to keep our business climate competitive," said Senator Wielechowski. "Research like this sends a strong message to those seeking to invest in Alaska that our business taxes are better than in 90% of the rest of the nation.”
The Tax Foundation is a non-partisan tax research group based in Washington, DC that works for simple, sensible tax policy at the federal, state, and local level by informing Americans about the size of tax burdens and analyzing tax policies.
To read the report, click here.
For more information, call Senator Wielechowski at 242-1558 or Michelle Sydeman at 321-1944.