Utah ranks best in new economic outlook analysis


Utah finished first 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 Utah examined such variables as top marginal personal income tax rate (4.95%) and top marginal corporate income tax rate (4.95%). 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, Utah ranked fifth.

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.

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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

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