The Tax Foundation considers New York to have the worst business climate of all states. While the state actually ranked in the better half in terms of corporate taxes, its individual income tax policy was ranked the worst in the country. The state collected $1,864 in personal income taxes per capita in 2011, higher than all other states. In addition, the Tax Foundation considered the state's unemployment taxes and property tax policies among the most burdensome of all states. Nevertheless, 17 of the 2012 Fortune 100 companies are located in New York, with nine of these companies among the Fortune 50. . . . despite the tax burden, many companies, especially large ones, are attracted to New York due to such factors as its large population and proximity to Wall Street.Of course, the state's "large population" and "proximity to Wall Street" benefit us in Utica, Syracuse and Buffalo how?
Where does NY's ranking leave Upstate?