New York and New Jersey Rank Among Worst for Small Business

According to the Small Business & Entrepreneurship Council’s recently released 2010 Business Tax Index, New York and New Jersey rank among the worst tax systems for small business in the country. New York lands 47th and New Jersey’s tax system comes in at 50th.

The ranking is based on 16 different tax measures, and the index combines those measures into one tax score that allows the 50 states and the District of Columbia to be combined and ranked accordingly. So where should entrepreneurs flee to if they want to be part of the best tax system in the nation? To the west—the top five states respectively are: South Dakota, Texas, Nevada, Wyoming, and Washington state.