Tax Foundation Ranking Indicates Dramatic Improvement In Louisiana’s Business Tax Competitiveness
The Tax Foundation in collaboration with KPMG has released a new 50-state analysis of business tax burdens in the U.S. that indicates Louisiana’s business tax competitiveness has improved significantly over the past few years.
The Tax Foundation ranking, Location Matters: A Comparative Analysis of State Tax Costs on Business, indicates Louisiana now ranks No. 2 (second-lowest state-and-local tax burden) in the U.S. for new firms and No. 10 for mature firms. Considering only Southern states, the Tax Foundation study ranks Louisiana No. 1 for new firms and No. 3 for mature firms.
In 2002, the Public Affairs Research Council of Louisiana (PAR) published Corporate Tax Burdens in the Southern States: A Comparison, a study utilizing a similar methodology as that of the Tax Foundation but focusing only on 12 Southern states. The PAR study indicated Louisiana’s average rank in its study was No. 10 for mature firms analyzed in the 12-state pool. Accordingly, Louisiana’s business tax competitiveness has improved significantly since 2002 based on the results of the new Tax Foundation analysis.
Read more on the Tax Foundation ranking.