PROVIDENCE, R.I. (AP) - A new report says Rhode Island continues to rank among the 10 states with the worst tax climates for business.
The report issued Tuesday by the nonprofit Tax Foundation in Washington, D.C., ranked Rhode Island 42nd, a slight improvement over 44th last year.
Joseph Henchman, director of state projects at The Tax Foundation, says changes to Rhode Island's income-tax law, including a reduction in the top rate, passed in June will not take effect until January 1.
Rhode Island has made some progress in recent years. It ranked 50th in the 2006 fiscal year and 49th in 2007.
New York was worst this year.
Information from: The Providence Journal, http://www.projo.com/
Copyright 2010 The Associated Press.