Tennessee is in the bottom half of a new study that measures the tax burden businesses would face in each of the 50 states.
The Tax Foundation study released today ranks states based on the tax liability for both mature and new businesses. Tennessee is 29th in both categories, which means it has a heavier tax burden than most of the country.
“Corporate taxes on the state level rarely treat all comers equally, leading to sometimes dramatic disparities in the cost of doing business,” Tax Foundation president Scott Hodge said in a news release. “Tax preferences and incentive deals can distort the playing field based on how long a business has been operating, whether it’s a manufacturing or retail operation or whether it’s moved from another state to set up shop.”