Florida Ranked 5th in the Nation on Tax Policy

Florida won high marks for its tax climate in a report released Wednesday by the Tax Foundation. The State Business Tax Climate Index ranked Florida fifth in the nation for tax climate in 2014, the same place the Sunshine State held last year.

Red states dominated the top 10. Wyoming led the nation followed by South Dakota, Nevada, Alaska, Florida, Washington, Montana, New Hampshire, Utah and Indiana. Blue states dominated the bottom 10 with New York ranked as the worst tax climate in the nation followed by New Jersey, California, Minnesota, Rhode Island, Vermont, North Carolina, Wisconsin, Connecticut and Maryland.

The goal of the State Business Tax Climate Index is to start a conversation with policymakers about how their states fare against the rest of the country, said Scott Drenkard, an economist with the Tax Foundation. With this report, were asking: How well is your tax code structured? Are businesses in your state spending too much time complying with onerous tax provisions? Are you double taxing things you shouldnt?

Drenkard teamed up with Joseph Henchman to write the report.