New York ranked second worst

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The Tax Foundation, located in Washington D.C., has done a study of the state taxes and has found that New York is one of the worst place to do business. The Tax Foundation is a conservative leaning research group. New York has gone from No. 47 last year according to the study,to No. 49 this year. Though New Jersey ranked No. 50 to being the very worst, for having the worst tax situation. Wyoming however has ranked No.1 for being the best place for business.
The Business Council Of New York State Inc, headed by Kenneth Adams has said that this study proves that the state of New York can not raise taxes to help with the over 1 billion dollar deficit in current budget.
On the 18th of November state legislators will make attempts for comming up with the money at a meeting called by Gov. David Paterson.
Adams has also said that there needs to be a way to reduce business taxes in New York especially in an already struggling economy. The burden of capital and investment, and business property tax needs to be reduced while creating jobs at the same time.
This study ranks each state according to property tax, unemployment insurance tax, corporate tax sales tax and individual income tax.