Silicon Valley's economy seems to be recovering more quickly than the rest of the nation's, with employers hiring and venture capitalists offering sunny predictions. There's even a new reality show based here.
It may not last. A new analysis of how business-friendly states are -- released today by the nonpartisan Tax Foundation -- shows that California is way at the bottom. The Golden State ranks a dismal 48 out of 50.
"States do not institute tax policy in a vacuum," said Scott Drenkard and Joseph Henchman, the study's authors. "Every change to a state's tax system makes its business tax climate more or less competitive compared to other states and makes the state more or less attractive to business."
Translation: If California remains relatively hostile to new businesses -- at least compared with friendlier states like Washington, Texas, Florida, and Nevada -- the next generation of tech companies may be located s... [Read more]
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