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 second quarter of 2019, 63% reported taxes had some negative impact on their operations (little, moderate, or great impact). Results from the second quarter include the following::
37% indicated taxes had no impact;
24% indicated taxes had little impact;
30% indicated taxes had a moderate impact; and
9% indicated taxes had a great impact.
Asked which tax categories were most burdensome, companies responded with the below breakdown:
Figure 8: Which tax do you find most burdensome to your company?