FOR IMMEDIATE RELEASE:
October 11, 2007
For more information contact:

Mark Willis, Chief Operating Officer
Wyoming Business Council
Office: 307.777.2842

Nate Bailey
The Tax Foundation
Phone: 202.464.5102
Web: www.taxfoundation.org

Tax Foundation ranks Wyoming first in 2008 State Business Tax Climate Index

CHEYENNE - The Tax Foundation once again ranked Wyoming first in its 2008 State Business Tax Climate Index, released on October 10. Wyoming has ranked first every year since the Tax Foundation began ranking states in 2003.

According to the Tax Foundation, the Index ranks how "business friendly" the 50 state tax systems are, providing a roadmap for state lawmakers concerned with keeping their states tax-competitive.

Tax Foundation reports that top five states for business taxes are Wyoming, South Dakota, Nevada, Alaska and Florida. The worst five states for business taxes are Ohio, California, New York, New Jersey and Rhode Island.

“When you look at the other nearby states like Colorado (13), Utah (17), Idaho (31) and Nebraska (43), you can see Wyoming has a lower cost of doing business overall than any other state in the area,” said Mark Willis, Wyoming Business Council Chief Operating Officer. “We have the best business tax structure because we have no corporate or personal state income tax, no inventory tax and sales and use taxes ranging from four to six percent. This contributes to a lower cost of labor in the state without penalizing workers.”

The Index ranks states based on the taxes that matter most to businesses and business investment: corporate tax, individual income tax, sales tax, unemployment tax and property tax. 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. To view the full report, visit www.taxfoundation.org and click on 2008 State Business Tax Climate Index.

The mission of the Wyoming Business Council is to facilitate the economic growth of Wyoming. For more information, please visit the Web site at www.wyomingbusiness.org.

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