Impact of State and Local Taxes on Meeting Goals
Businesses were asked to what extent state or local taxes hindered their ability to meet their strategic goals. In third quarter 2018, 34 percent of businesses reported that taxes had some negative impact on their operations. Results from the third quarter include the following:
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Thirty-four percent of firms indicated taxes had no impact
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Twenty-five percent of firms indicated taxes had little impact
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Twenty-five percent of firms indicated taxes had a moderate impact
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Nine percent of firms indicated taxes had a great impact
When asked which tax categories were most burdensome to their companies, companies responded with the below breakdown:
