Recent changes in New York's tax laws would improve the state's national rankings for state and local tax burden. The Washington, DC-based Tax Foundation says the simplification of business taxes, along with cutting the corporate tax rate to 6.5 percent and the manufacturers' rate to zero, would significantly improve New York's corporate tax climate ranking from 25th to 4th best in the nation. The Foundation adds those changes would improve New York to the 3rd-highest taxed state in the nation, ahead of New Jersey and California.
