SALT for Businesses Hit $671 bn in 2013

U.S. businesses paid $671 billion in total state and local taxes in fiscal year 2013, according to an annual study prepared by Ernst & Young in conjunction with the Council on State Taxation that was released today.

State business taxes grew 4.7 percent compared to local tax growth of 3.7 percent, representing the third consecutive year of growth for both categories, according to the study, which was released today. In FY 2013, business taxes accounted for 44.9 percent of all state and local taxes. While this is the lowest share of total state and local taxes since FY2006, the business share has remained relatively stable and peaked at 45.7 percent in FY2007, less than one percentage point different from the current share.