La. ranked No. 2 for new firms, No. 10 for mature firms
Louisiana is one of just two Southern states to rank in the top 10 for new and mature firms in an analysis released today by the Tax Foundation and KPMG that examines business tax burdens in each state. Louisiana Economic Development says the report indicates Louisiana's business tax competitiveness has improved significantly over the past few years, as exemplified by the pair of top 10 rankings. The study, called "Location Matters: A Comparative Analysis of State Tax Costs on Business," presents state/local tax burdens for seven firm types, including corporate headquarters, research-and-development facilities, retail operations, call centers, distribution facilities, capital-intensive manufacturers and labor-intensive manufacturers. Financial data, tax rates, exemptions and incentives for the 50 states were then applied to both new operations and pre-existing businesses. A 2002 study by the Public Affairs Research Council of Louisiana—which ranked Louisiana 10th of 12 Southern states for business tax competitiveness—utilized a largely similar approach. Louisiana's No. 2 ranking for new firms and No. 10 ranking for existing, or mature, firms in the new report represents a significant improvement. Aside from Louisiana, Georgia was the only other Southern state to break into the top 10 in two categories in the Tax Foundation and KPMG study, which you can access in abbreviated and full versions here.
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A long way to go