N.C. improves ranking in business climate report

The Winston-Salem Journal recently published an article on North Carolina’s business climate which states:

“North Carolina’s ranking in an influential tax business climate report improved by four spots to 11th for 2017, the Tax Foundation said Wednesday. The 13th annual report is based on five tax categories: corporate, individual income, property, sales and unemployment insurance. North Carolina’s improvement has been modest after making the largest ever one-year ranking upswing from 44th in 2014 to 16th in 2015. The improvement came primarily following tax reforms passed in October 2013. The 4 percent corporate tax rate is the lowest in the country, according to the foundation. It could drop as low as 3 percent in 2017 if the state meets revenue targets that depend significantly on tax revenue increasing in a growing economy. The most competitive state for 2017 is Wyoming, followed by South Dakota, Alaska, Florida and Nevada. The top five are unchanged from 2016. The least competitive state is Louisiana, followed by Maryland, Connecticut, Rhode Island and Ohio.”

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