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New York tax climate ranked second worst among 50 states, organization says

New York tax climate ranked second worst among 50 states, organization says

New York tax climate ranked second worst among 50 states, organization says
Photographer: Shutterstock

ALBANY — New York has fallen back to next-to-worst in an anti-tax organization’s annual ranking of states’ taxation policies.

The Tax Foundation, a Washington, D.C., think tank, ranks New York 49th out of the 50 states in its 2020 State Business Tax Climate Index, released Tuesday.

That breaks down to 13th for corporate taxes, 48th for individual taxes, 43rd for sales taxes, 46th for property taxes and 38th for unemployment insurance taxes.

The bottom of the list is a familiar place for New York. The state briefly ranked 48th, in 2019, but was ranked 49th in 2015 through 2018.

For 2020, perennial last-place finisher New Jersey was ranked 50th again, just as it did in 2015 through 2019. (In 2014, New York was ranked 50th and New Jersey 49th.)

Two other neighbors of New York also rank far down in the Tax Foundation’s 2020 index: Vermont (44th) and Connecticut (47th).

The best-rated tax climates are mostly in western states, led by perennial No. 1-ranked Wyoming. The only Northeast state to crack the top ten was New Hampshire, ranked No. 6.

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