Monday, July 28, 2008

KPMG: Atlanta ranks high as tax-friendly area to businesses

Atlanta placed third in KPMG International’s analysis of major American cities with tax structures favorable to businesses.

The “KPMG’s 2008 Competitive Alternatives: Focus on Tax” study puts San Juan, Puerto Rico at No. 1 with a total tax index of 46.6, which represents tax costs 53.4 percent below the U.S. national average of 100. San Juan was followed by Baltimore at 92.1 and Atlanta at 95.1. Atlanta also ranked ninth among the 35 largest international cities.

Rounding out the top five American cities are Tampa, Fla., (98.1) and Detroit (98.6).
"Cities across the United States recognize that attracting and retaining businesses of all sizes is important for a vibrant local economy," said Hartley Powell, national leader of the strategic relocation and expansion services practice at KPMG LLP, the U.S. member firm of KPMG International. "As the survey results indicate, certain cities are leaders in developing a tax environment that encourages business development, and tax costs are a key consideration in the site selection process."

KPMG said its study is a global comparison of the total tax burden in 102 cities throughout 10 countries, including corporate income taxes, capital taxes, sales taxes, property taxes, miscellaneous local business taxes and statutory labor costs.

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