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Those looking to create Texas jobs by opening a small business now have another reason to do so.

The Small Business and Entrepreneurship Council’s Business Tax Index 2010: Best to Worst State Tax Systems for Entrepreneurship and Small Business report ranked Texas as the second-best state for small business and entrepreneurs. Texas was ranked so high because of the low cost of the state tax system on small businesses.

“Here in the Lone Star State, we have developed an environment that encourages entrepreneurs to pursue their dreams of small business ownership, further strengthening our economy and creating jobs for Texans,” Gov. Rick Perry said. “Thanks to our low taxes, reasonable and predictable regulatory environment and skilled and educated workforce, businesses continue to look to Texas as a place for growth and prosperity.”

The report analyzed 16 different tax measures to create one tax score for all 50 states and the District of Columbia. The measures include income, capital gains, property, death/inheritance, unemployment taxes, and various consumption-based taxes, such as state gas and diesel levies.

“Taxes at the state and local levels matter by diverting resources from and reducing incentives for productive, private-sector risk taking that generates innovation, growth and jobs,” Raymond J. Keating, chief economist for SBE Council and author of the report, said. “Quite simply, economic recovery will be restrained by high or increasing taxes, or boosted by low or falling taxes. Governors and legislators have a choice.”

The SBE Council is a nonpartisan, nonprofit small business advocacy organization that works to protect small business and promote entrepreneurship.

This entry was posted on Tuesday, May 4th, 2010 at 9:45 am and is filed under Texas, job search. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.