Vermont Ranks 42nd on the Small Business Survival Index

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Vermont Ranks 42nd on the Small Business Survival Index

Tue, 07/30/2002 - 8:00pm -- tim

The Small Business Survival Committee (SBSC) released its annual rankings of the states according to their respective policy climates for small business and entrepreneurship in the "Small Business Survival Index 2002." Vermont ranks a 42nd in the nation.
Small Business Survival Index 2002' compares how
government in the states treat small businesses and entrepreneurs.
Half of all small businesses fail within four years.
The "Small Business Survival Index 2002" ties together 20 major government-imposed or government-related costs impacting small
businesses and entrepreneurs across a broad spectrum of industries and types of businesses: personal income taxes; capital gains taxes; corporate income taxes; individual alternative minimum taxes; corporate alternative minimum taxes; indexing of tax rates; property taxes; sales, gross receipts and excise taxes; estate taxes; unemployment taxes; health care costs; electricity costs; workers' compensation costs; crime rates; right to work status; number of government employees; tax limitation status; Internet taxes; gas taxes; and state minimum wages. These measures are combined into one index number-the Small Business Survival Index.
Vermont benefits from no added estate taxes, while also ranking well on sales, gross receipts and excise taxes, the unemployment tax, and the crime rate. However, the state ranks poorly in terms of personal income taxes, corporate income taxes, property taxes, electricity costs, workers' compensation costs, and the number of government workers.
Following are the complete state rankings for the Small Business Survival Index 2002:
Small Business Survival Index: State Rankings
Rank State SBSI Score
1 South Dakota 21.080
2 Nevada 23.270
3 Wyoming 27.640
4 Texas 29.730
5 Florida 30.110
6 New Hampshire 31.010
7 Tennessee 31.090
8 Washington 31.340
9 Mississippi 33.630
10 Alabama 33.775
11 Michigan 33.950
12 Colorado 36.680
13 Illinois 36.820
14 Virginia 37.400
15 Indiana 37.690
16 South Carolina 38.750
17 Pennsylvania 38.800
18 Louisiana 39.044
19 Missouri 39.196
20 Arizona 39.740
21 Alaska 40.360
22 Georgia 40.970
23 Delaware 41.070
24 Arkansas 41.610
25 Maryland 41.720
26 Oklahoma 42.660
27 Utah 43.239
28 Idaho 43.510
29 Kentucky 43.520
30 Massachusetts 43.770
31 Wisconsin 44.100
32 Kansas 45.810
33 Connecticut 46.280
34 Nebraska 46.350
35 North Dakota 47.025
36 Oregon 47.550
37 North Carolina 47.990
38 Montana 47.994
39 New Jersey 48.310
40 Ohio 49.060
41 West Virginia 49.230
42 Vermont 49.454
43 New York 49.955
44 Iowa 50.358
45 Rhode Island 50.730
46 California 52.250
47 New Mexico 52.440
48 Minnesota 53.610
49 Maine 53.810
50 Hawaii 54.720
51 District of Columbia 60.115