Impact of State and Local Taxes
Businesses were asked to what extent state or local taxes hindered their ability to meet their strategic goals. In the first quarter of 2019, 59 percent of businesses reported that taxes had some negative impact on their operations (little, moderate, or great impact). Results from the first quarter include the following:
Forty-one percent of firms indicated taxes had no impact
Twenty-six percent of firms indicated taxes had little impact
Twenty-four percent of firms indicated taxes had a moderate impact
Nine percent of firms indicated taxes had a great impact
When asked which tax categories were most burdensome to their companies, companies responded with the below breakdown:
Figure 8: Which tax do you find most burdensome to your company?