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NH ranked 7th for business tax climate

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According to a 2016 State Business Tax Climate Index Report from the Tax Foundation, New Hampshire ranks 7th in the nation for best business tax climate. Wyoming topped the list, while New Jersey ranked last.

Among many of the top ten states, one common factor was a lack of a major tax. While each state levies property and unemployment insurance taxes, several do not impose a corporate income tax, individual income tax, and/or a sales tax.

The report cited that states in the bottom 10 tend to all share "complex, non-neutral taxes with comparatively high rates."

The report did indicate, however, that a state can rank in the top ten while still imposing all major tax types. Indiana and Utah, for example, levy all the major tax types, but with low rates on broad bases.

Others have expressed concern, though, that NH's ranking is somewhat misleading. NH ranks 48th in corporate taxes, 44th in unemployment insurance taxes and 43rd in property taxes.

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