Latest Edition of the Tax Foundation’s State Business Tax Climate Index Ranks Virginia ranks 26th. The tax code is one of the key things businesses look at when investigating where to invest or locate.

The tax code is one of the key things businesses look at when investigating where to invest or locate. Business taxes affect business decisions–job creation and retention, business expansions and competitiveness. In the latest edition of the Tax Foundation’s State Business Tax Climate Index, Virginia is ranked number 26 in the nation. The study examined five significant taxes paid by businesses: corporate, individual, sales, unemployment insurance, and property. According to the Tax Foundation, “the absence of a major tax is a dominant factor” for many of the top ten states, including No. 1 Wyoming and No. 2 South Dakota. Areas the study indicated that Virginia needs to improve in include individual income tax, unemployment insurance tax and property tax.