Oklahoma has the lowest unemployment insurance tax, top 10 corporate tax rankPublished: Wednesday, November 28, 2018 By: Eric Long Source: VeloCity
The Tax Foundation released its 2019 annual report for state tax structures. Making this list isn’t just about having low (or no) taxes, it’s about how clear the tax code is and how effectively it raises revenue in balance with its impact on businesses.
Oklahoma ranked No. 1 for its unemployment insurance tax structure for the fourth year in a row. Oklahoma’s unemployment insurance tax is particularly friendly towards businesses as it’s easy to understand and doesn’t penalize companies already struggling.
Oklahoma also ranked in the top 10 for the best corporate income tax structure, outpacing neighbors like Texas (49th), Kansas (34th), Colorado (16th) and Arkansas (40th).