Missouri’s tax code ranks 16th among the 50 states, unchanged from the previous year, according to a study released Tuesday.
The Tax Foundation’s annual State Business Tax Climate Index ranks states based on their tax structure. It compares all 50 states on more than 100 variables in five tax categories — corporate, sales, unemployment insurance and property and individual income.
States with complex tax codes that distort business decisions were ranked lower on the list, while states with transparent, fair tax codes scored near the top, according to lead report author Jared Walczak, a senior policy analyst at the Tax Foundation.
Missouri ranked 5th in corporate tax structure, 7th in unemployment insurance, 7th in property, 24th in sales taxes and 28th in the individual income tax category.
The Tax Foundation is a nonpartisan policy educational organization that works with lawmakers to provide resources and analysis and helps to inform the decisions the policy makers. The goal of its annual study is to serve as a “diagnostic tool” for policymakers, individuals and businesses.
Read more: St. Louis Post-Dispatch