Best States No. 1: Utah
If you're looking for the state with the lowest tax and regulatory burden, then you want to head to Utah. The Beehive State ranks No. 1 for having the lowest overall taxes and most favorable regulatory environment for businesses.
The state's 5.00 percent corporate income tax rate and other factors rank the state No. 5 in overall corporate taxes, while the state is ranked No. 10 for its property taxes. Utah is ranked No. 6 for its regulatory environment.
Utah's overall ranking gets a boost for its generous tax incentives and credits for job creation, research and development, and other investments.