“One of the biggest hindrances to New York’s score is the progressive and high individual income tax,” said the Foundation’s Scott Drenkard. “It is pretty high for the region and certainly high against the rest of the country.”
By contrast, the top three states — Wyoming, South Dakota and Nevada — have no corporate or individual income taxes. Gov. Andrew Cuomo, who established two tax commissions that will recommend ways to simplify the tax law and cut taxes, cited other studies showing New York with a far friendlier business climate.