The Council On State Taxation (COST) is pleased to announce the release of the annual Business Tax Burden Study for Fiscal Year 2007, prepared in conjunction with Ernst & Young LLP. The study shows all state and local business taxes paid in each of the 50 states and by industry. Results indicate that businesses paid $577 billion in state and local taxes in fiscal year 2007, representing 44.1% of total state and local taxes. The taxes include business property taxes, sales taxes on business inputs, gross receipts taxes, corporate income taxes, and other state and local taxes that are the statutory liability of business taxpayers.
Please click here to access the full study.
COST is a nonprofit trade association consisting of over 600 multistate corporations engaged in interstate and international business. COST’s objective is to preserve and promote equitable and nondiscriminatory state and local taxation of multijurisdictional business entities.