Montana Ranked Fifth Overall for 2020 State Tax Business Climate Index
We’ve talked a lot on our blog about the benefits of relocating your business to the Connections Park, and in a more broad sense, the perks of business in Montana. Still not convinced? Let the State Business Tax Climate Index report make the decision for you.
Late last year, the State Business Tax Climate Index for 2020 was released. Unfamiliar with this report? Conducted by the Tax Foundation, the State Business Tax Climate Index “enables business leaders, government policymakers, and taxpayers to gauge how their states’ tax systems compare.” Since 1937, the Tax Foundation is an independent tax policy nonprofit that has been proudly serving the United States in tax policy research and education for over 80 years. The organization states that their mission is “to improve lives through tax policies that lead to greater economic growth and opportunity.”
The Tax Climate Index evaluates and ranks all 50 states for the following categories: Overall Rank, Corporate Tax Rank, Individual Income Tax Rank, Sales Tax Rank, Property Tax Rank, and Unemployment Insurance Tax Rank. This report highlights the health of each state’s tax policy, structure, and provides a roadmap for improvement.
Taking first overall was Montana’s neighbor to the south, Wyoming. Following not too far behind was Montana, ranked fifth overall. Since 2014, Montana has moved up from seventh to its current rank, maintaining a favorable position on the US State Business Tax Climate Index. Read more here to see how Montana performed in the other categories.