A Revolutionary Tax Twitch
Here’s a humorous note for perspective: That revolutionary tax “overhaul” that the folks in the General Assembly are trumpeting as such a big deal, but that still needs to be watered down to remain “revenue neutral”? It will move us past a whopping three states in business tax climate:
Rhode Island’s tax climate for business would improve somewhat if the state adopted a tax-overhaul plan proposed by the General Assembly’s Democratic leadership, the Tax Foundation said Wednesday.
Rhode Island now ranks 44th of the 50 states, among the 10 worst nationwide, according to the Tax Foundation, a nonprofit group in Washington, D.C., that monitors government fiscal policy.
If the plan were implemented for this year, the group said, Rhode Island would rank 41st. “This indicates the plan would be a modest but positive change for the state’s tax system,” the group said in a report.
Look out Minnesota, Wisconsin, and Vermont! (PDF)