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 the fourth quarter of 2018, 63 percent of businesses reported that taxes had some negative impact on their operations (little, moderate, or great impact). Results from the fourth quarter include the following:
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Thirty-seven percent of firms indicated taxes had no impact
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Twenty-eight 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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Ten percent of firms indicated taxes had a great impact
When asked which tax categories were most burdensome, companies responded with the below breakdown:
Figure 7: Which tax do you find most burdensome to your company?
