October 21, 2009
New Jersey has the least-business-friendly tax climate of all 50 states. The Garden State has the highest median property taxes in the nation, the second-highest state-level sales tax rate, and the third-highest top individual income tax rate.
All of these factored in to New Jersey's recent last-place ranking in the Tax Foundation's 2010 State Business Tax Climate Index, which measure's states' tax-competitiveness.
New Jersey Senate Republican Leader Tom Kean discusses the state's current tax system and potential reforms in this week's Tax Policy Podcast.
More on New Jersey is available here.