The Good and the Bad for Washington Companies — State Taxes and the Business Climate
Lane Powell Shareholder Scott Edwards authored an article in the December 2011 issue of Seattle Business magazine titled “The Good and the Bad for Washington Companies — State Taxes and the Business Climate.” In the article, Edwards gives an overview of Washington’s business climate and tax structure, and their effect on the state’s businesses and employees.
Washington’s unique tax structure puts it at both the top and bottom of various studies that attempt to rank states’ business climates. Some reports, including one prepared by Forbes magazine, rank Washington very high, in large part because the state does not have a personal income tax. The absence of a state personal income tax has been a major recruiting tool for Washington businesses conducting national searches for skilled employees and executives. Success in recruiting highly educated workers to relocate from elsewhere is, in turn, a factor in Washington’s high ranking for the educational attainment of its workforce.
This article first appeared in Seattle Business magazine.