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A recent WebCPA article titled “NJ. Tax System Ranked Least Friendly to Business” reports that “New Jersey made the bottom of the list in a ranking of business-friendly state tax systems”.
“The Tax Foundation's 2009 State Business Tax Climate Index measures how well a state's tax system encourages investment by maintaining a broad tax base and low rates. The annual ranking takes into account corporate, individual income, sales, unemployment and property taxes. The states are scored on these taxes, and the scores are weighted based on the relative importance or impact of the tax to a business.”
The bottom 3 are California, New York and, again like Oliver Twist last on the list, New Jersey.
This ranking, which comes as absolutely no surprise to me (or should to you), added to the other lists of highest taxes (property, income, sales) and other costs that New Jersey tops, explains why a recent news item declared “Population Decline Hitting New Jersey Hard”.
According to the item, New Jersey “lost 231,565 people between 2002 and 2006, including 72,547 people last year. The latter was the fourth highest loss in the nation behind only California, Louisiana and New York.
“When lost income and sales taxes from the people who left New Jersey are considered, the population drain is estimated to have cost the state $680 million in tax revenue last year.”
Obviously rather than trying to fix the mucking fess that is New Jersey by voting out the bastards that have caused it to be so, NJ residents are “voting with their feet” by leaving the so-called Garden State for places with lower taxes and costs and less corruption and greed by politicians.
To be perfectly honest, as I have said many times before here and at TWTP, once my parents have gone to their final audit I am out of here!
TAFN
“The Tax Foundation's 2009 State Business Tax Climate Index measures how well a state's tax system encourages investment by maintaining a broad tax base and low rates. The annual ranking takes into account corporate, individual income, sales, unemployment and property taxes. The states are scored on these taxes, and the scores are weighted based on the relative importance or impact of the tax to a business.”
The bottom 3 are California, New York and, again like Oliver Twist last on the list, New Jersey.
This ranking, which comes as absolutely no surprise to me (or should to you), added to the other lists of highest taxes (property, income, sales) and other costs that New Jersey tops, explains why a recent news item declared “Population Decline Hitting New Jersey Hard”.
According to the item, New Jersey “lost 231,565 people between 2002 and 2006, including 72,547 people last year. The latter was the fourth highest loss in the nation behind only California, Louisiana and New York.
“When lost income and sales taxes from the people who left New Jersey are considered, the population drain is estimated to have cost the state $680 million in tax revenue last year.”
Obviously rather than trying to fix the mucking fess that is New Jersey by voting out the bastards that have caused it to be so, NJ residents are “voting with their feet” by leaving the so-called Garden State for places with lower taxes and costs and less corruption and greed by politicians.
To be perfectly honest, as I have said many times before here and at TWTP, once my parents have gone to their final audit I am out of here!
TAFN
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