Texas ranks 15th best in new economic outlook analysis

Texas finished 15th in a study by the website Rich States, Poor States that examined the 50 states’ economic outlooks based on 15 weighted policy measures.

The economic outlook ranking for Texas examined such variables as top marginal personal income tax rate (0) and top marginal corporate income tax rate (2.62). Other measures examined include property and sales tax burdens, existence of estate or inheritance taxes, debt service as a percentage of tax revenue and the number of public employees per 10,000 people.

RichStatesPoorStates.org also ranked states based on their economic performances from 2007 to 2017. In that assessment, Texas ranked second.

The state’s cumulative gross domestic product from 2007 to 2017, its overall loss of population to other states between 2008 and 2017 and nonagricultural job growth from 2007 to 2017 determined how it fared in the economic performance ranking.

State Rankings on Economic Outlook and Performance

State 2019 Economic Performance Ranking 2019 Economic Outlook Ranking Top Marginal Personal Income Tax Rate Top Marginal Corporate Tax Rate
Utah 5 1 4.95% 4.95%
Idaho 11 2 6.93% 6.93%
North Dakota 3 3 2.9% 4.31%
Nevada 24 4 4.95% 4.95%
Indiana 32 5 5.25% 5.75%
North Carolina 9 6 5.25% 2.5%
Tennessee 6 7 0% 6.5%
Florida 13 8 0% 5.5%
South Dakota 12 9 0% 0%
Arizona 22 10 4.54% 4.9%
Wyoming 45 11 0% 0%
Michigan 42 12 6.65% 8%
Oklahoma 20 13 5% 6%
Virginia 27 14 5.75% 7.62%
Texas 2 15 0% 2.62%
New Hampshire 19 16 0% 7.7%
Colorado 4 17 4.63% 4.63%
Georgia 10 18 5.75% 6.38%
Mississippi 48 19 5% 5%
Wisconsin 34 20 7.65% 7.9%
Alabama 35 21 4.15% 6.03%
Missouri 37 22 6.4% 6.59%
Arkansas 30 23 6.9% 6.5%
Ohio 38 24 7.5% 3.67%
Iowa 29 25 5.37% 11.64%
Louisiana 39 26 3.78% 6.32%
Kansas 40 27 5.7% 7%
Massachusetts 15 28 5.05% 8%
South Carolina 8 29 7% 5%
New Mexico 47 30 4.9% 5.9%
Alaska 43 31 0% 9.4%
Kentucky 25 32 0% 6.5%
Nebraska 14 33 6.84% 7.81%
Maryland 28 34 8.95% 8.25%
West Virginia 41 35 6.5% 6.5%
Delaware 26 36 7.85% 11.74%
Pennsylvania 33 37 6.95% 16.88%
Montana 16 38 6.9% 6.75%
Washington 1 39 0% 6.75%
Minnesota 21 40 9.85% 9.8%
Connecticut 50 41 6.99% 7.5%
Rhode Island 44 42 5.99% 7%
Maine 36 43 7.15% 8.93%
Oregon 7 44 10.66% 11.65%
Hawaii 23 45 11% 6.4%
New Jersey 49 46 11.75% 11.5%
California 18 47 13.3% 8.84%
Illinois 46 48 4.95% 9.5%
Vermont 31 49 8.75% 8.5%
New York 17 50 12.7% 17.23%

Source: RichStatesPoorStates.org/American Legislative Exchange Council

This article was first published by The Center Square.



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