Sequestration and its $85 billion in federal budget cuts planned for this year will bring significant challenges on the U.S. economy and the commercial real estate recovery. According to the National Real Estate Investor, the forced reductions that began March 1st will have real consequences for the U.S. economy, including eliminated and reduced government contracts, reduced private and public sector jobs and furloughed workers.
The Tax Foundation, a non-profit research group that is dedicated to educate taxpayers about tax policy and burden, has complied a ranking of all 50 states regarding solely their respective tax issues. The study statistics include property taxes, corporate taxes, individual income taxes, sales taxes, and unemployment insurance taxes. The premise behind the study was that taxes do make a difference as to where a company will locate, and that states do change tax policies to attract business.