States Overview

Economic Outlook

This is a forward-looking forecast based on the state’s standing (equal-weighted average) in 15 important state policy variables. Data reflect state and local rates and revenues and any effect of federal deductibility.

Current Economic Outlook Ranks (2024 Edition)

From the 2024 edition of Rich States, Poor States. These values are the most recent available at the time of publication.

ME 45

VT 49

NH 19

WA 37

ID 2

MT 30

ND 10

MN 44

IL 48

WI 21

MI 16

NY 50

RI 39

MA 36

OR 42

NV 13

WY 8

SD 7

IA 34

IN 5

OH 26

PA 35

NJ 46

CT 40

CA 47

UT 1

CO 17

NE 32

MO 29

KY 28

WV 23

VA 22

MD 43

DE 33

AZ 3

NM 38

KS 27

AR 15

TN 12

NC 4

SC 24

OK 9

LA 31

MS 18

AL 20

GA 11

AK 25

HI 41

TX 6

FL 14

State	2024 Ranking
Alabama	20^th
Alaska	25^th
Arizona	3^rd
Arkansas	15^th
California	47^th
Colorado	17^th
Connecticut	40^th
Delaware	33^rd
Florida	14^th
Georgia	11^th
Hawaii	41^st
Idaho	2^nd
Illinois	48^th
Indiana	5^th
Iowa	34^th
Kansas	27^th
Kentucky	28^th
Louisiana	31^st
Maine	45^th
Maryland	43^rd
Massachusetts	36^th
Michigan	16^th
Minnesota	44^th
Mississippi	18^th
Missouri	29^th
Montana	30^th
Nebraska	32^nd
Nevada	13^th
New Hampshire	19^th
New Jersey	46^th
New Mexico	38^th
New York	50^th
North Carolina	4^th
North Dakota	10^th
Ohio	26^th
Oklahoma	9^th
Oregon	42^nd
Pennsylvania	35^th
Rhode Island	39^th
South Carolina	24^th
South Dakota	7^th
Tennessee	12^th
Texas	6^th
Utah	1^st
Vermont	49^th
Virginia	22^nd
Washington	37^th
West Virginia	23^rd
Wisconsin	21^st
Wyoming	8^th

United States Overview (2024 Edition)

From the 2024 edition of Rich States, Poor States. These values are the most recent available at the time of publication.

Top Marginal Personal Income Tax Rate	5.57% avg.
Top Marginal Corporate Income Tax Rate	6.75% avg.
Personal Income Tax Progressivity (change in tax liability per $1,000 of income)	$10.25 avg.
Property Tax Burden (per $1,000 of personal income)	$29.11 avg.
Sales Tax Burden (per $1,000 of personal income)	$22.46 avg.
Remaining Tax Burden (per $1,000 of personal income)	$17.46 avg.
Estate / Inheritance Tax Levied?	17 states
Recently Legislated Tax Changes	-$2.06 avg.
Debt Service as a Share of Tax Revenue	5.44% avg.
Public Employees Per 10,000 of Population (full-time equivalent)	522.2 avg.
State Liability System Survey (tort litigation treatment, judicial impartiality, etc.)	68.98 avg.
State Minimum Wage (federal floor is $7.25)	$10.71 avg.
Average Workers’ Compensation Costs (per $100 of payroll)	$1.31 avg.
Right-to-Work State? (option to join or support a union)	26 states
Tax Expenditure Limits	0.94 avg.

State Rank Trends (2008 - 2024)

A comprehensive look at overall state rankings since the first publication. Please note, data prior to the 2016 edition may be inconsistent with the print publication due to minor rounding errors.

State	2008	2009	2010	2011	2012	2013	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Alabama	15^th	16^th	17^th	20^th	21^st	17^th	20^th	19^th	21^st	21^st	20^th	21^st	23^rd	25^th	23^rd	24^th	20^th
Alaska	37^th	38^th	22^nd	29^th	29^th	21^st	18^th	14^th	25^th	30^th	34^th	30^th	26^th	18^th	21^st	23^rd	25^th
Arizona	6^th	3^rd	3^rd	12^th	9^th	6^th	7^th	5^th	5^th	8^th	5^th	11^th	10^th	13^th	3^rd	3^rd	3^rd
Arkansas	11^th	12^th	13^th	13^th	11^th	24^th	26^th	22^nd	20^th	23^rd	22^nd	23^rd	22^nd	23^rd	16^th	15^th	15^th
California	42^nd	43^rd	46^th	47^th	38^th	47^th	47^th	44^th	46^th	47^th	47^th	47^th	46^th	45^th	48^th	45^th	47^th
Colorado	9^th	2^nd	2^nd	6^th	8^th	16^th	22^nd	21^st	16^th	15^th	15^th	18^th	18^th	20^th	22^nd	25^th	17^th
Connecticut	40^th	32^nd	36^th	35^th	44^th	43^rd	44^th	47^th	47^th	46^th	40^th	40^th	40^th	39^th	35^th	39^th	40^th
Delaware	31^st	31^st	37^th	34^th	34^th	30^th	27^th	38^th	44^th	37^th	36^th	36^th	24^th	31^st	30^th	29^th	33^rd
Florida	16^th	11^th	5^th	10^th	13^th	9^th	16^th	15^th	8^th	6^th	6^th	9^th	7^th	2^nd	8^th	9^th	14^th
Georgia	8^th	8^th	9^th	11^th	10^th	8^th	9^th	7^th	19^th	17^th	11^th	20^th	21^st	14^th	15^th	12^th	11^th
Hawaii	41^st	41^st	39^th	46^th	46^th	40^th	36^th	37^th	42^nd	43^rd	45^th	45^th	44^th	42^nd	43^rd	42^nd	41^st
Idaho	10^th	14^th	7^th	5^th	6^th	7^th	5^th	6^th	15^th	10^th	2^nd	2^nd	3^rd	11^th	5^th	4^th	2^nd
Illinois	43^rd	44^th	47^th	44^th	48^th	48^th	48^th	40^th	43^rd	44^th	48^th	48^th	47^th	47^th	45^th	46^th	48^th
Indiana	12^th	17^th	20^th	16^th	24^th	14^th	3^rd	3^rd	6^th	2^nd	3^rd	3^rd	4^th	6^th	7^th	7^th	5^th
Iowa	23^rd	35^th	28^th	23^rd	22^nd	25^th	25^th	25^th	29^th	29^th	29^th	25^th	27^th	33^rd	32^nd	32^nd	34^th
Kansas	29^th	24^th	25^th	27^th	26^th	11^th	15^th	18^th	27^th	26^th	26^th	26^th	25^th	26^th	28^th	30^th	27^th
Kentucky	44^th	36^th	40^th	40^th	39^th	38^th	39^th	30^th	33^rd	33^rd	31^st	33^rd	31^st	29^th	34^th	27^th	28^th
Louisiana	24^th	18^th	16^th	15^th	19^th	28^th	29^th	26^th	28^th	28^th	27^th	27^th	30^th	22^nd	20^th	26^th	31^st
Maine	46^th	47^th	44^th	48^th	47^th	41^st	40^th	42^nd	38^th	42^nd	42^nd	42^nd	41^st	43^rd	44^th	44^th	45^th
Maryland	28^th	28^th	29^th	21^st	20^th	35^th	34^th	33^rd	31^st	34^th	32^nd	35^th	37^th	40^th	42^nd	41^st	43^rd
Massachusetts	22^nd	26^th	32^nd	24^th	25^th	29^th	28^th	28^th	26^th	25^th	25^th	28^th	35^th	30^th	33^rd	37^th	36^th
Michigan	17^th	34^th	26^th	25^th	17^th	20^th	12^th	24^th	22^nd	20^th	18^th	12^th	14^th	16^th	17^th	16^th	16^th
Minnesota	39^th	40^th	38^th	37^th	41^st	46^th	46^th	48^th	45^th	45^th	44^th	41^st	45^th	46^th	46^th	48^th	44^th
Mississippi	19^th	19^th	18^th	19^th	15^th	10^th	14^th	20^th	17^th	22^nd	24^th	19^th	20^th	27^th	27^th	22^nd	18^th
Missouri	25^th	23^rd	15^th	9^th	7^th	23^rd	24^th	27^th	24^th	24^th	23^rd	22^nd	19^th	21^st	29^th	31^st	29^th
Montana	32^nd	30^th	33^rd	36^th	36^th	42^nd	43^rd	43^rd	40^th	39^th	43^rd	39^th	33^rd	34^th	31^st	33^rd	30^th
Nebraska	34^th	29^th	34^th	32^nd	31^st	37^th	35^th	31^st	32^nd	32^nd	28^th	34^th	36^th	35^th	36^th	36^th	32^nd
Nevada	7^th	7^th	11^th	17^th	18^th	13^th	8^th	10^th	14^th	13^th	13^th	5^th	6^th	7^th	6^th	10^th	13^th
New Hampshire	26^th	37^th	30^th	28^th	28^th	27^th	32^nd	29^th	23^rd	18^th	17^th	16^th	17^th	19^th	18^th	19^th	19^th
New Jersey	48^th	46^th	48^th	45^th	42^nd	39^th	45^th	46^th	48^th	48^th	46^th	46^th	48^th	48^th	49^th	47^th	46^th
New Mexico	27^th	25^th	35^th	39^th	35^th	33^rd	37^th	34^th	34^th	35^th	35^th	29^th	34^th	38^th	38^th	38^th	38^th
New York	49^th	50^th	50^th	50^th	50^th	49^th	50^th	50^th	50^th	50^th	50^th	50^th	50^th	50^th	50^th	50^th	50^th
North Carolina	21^st	21^st	21^st	26^th	23^rd	22^nd	6^th	4^th	2^nd	3^rd	7^th	6^th	5^th	5^th	2^nd	2^nd	4^th
North Dakota	18^th	13^th	12^th	7^th	5^th	2^nd	4^th	2^nd	3^rd	4^th	4^th	4^th	11^th	8^th	9^th	8^th	10^th
Ohio	47^th	45^th	42^nd	38^th	37^th	26^th	23^rd	23^rd	18^th	19^th	21^st	24^th	29^th	28^th	19^th	20^th	26^th
Oklahoma	14^th	15^th	14^th	14^th	14^th	19^th	21^st	16^th	10^th	16^th	16^th	13^th	9^th	3^rd	4^th	5^th	9^th
Oregon	35^th	39^th	41^st	43^rd	45^th	44^th	42^nd	45^th	41^st	41^st	41^st	44^th	42^nd	44^th	41^st	43^rd	42^nd
Pennsylvania	36^th	42^nd	43^rd	41^st	40^th	34^th	33^rd	41^st	39^th	38^th	38^th	38^th	38^th	36^th	37^th	35^th	35^th
Rhode Island	45^th	48^th	45^th	42^nd	43^rd	45^th	41^st	39^th	35^th	36^th	39^th	43^rd	43^rd	41^st	40^th	40^th	39^th
South Carolina	20^th	20^th	31^st	22^nd	27^th	31^st	31^st	32^nd	30^th	27^th	33^rd	32^nd	32^nd	24^th	26^th	21^st	24^th
South Dakota	2^nd	5^th	4^th	2^nd	2^nd	3^rd	2^nd	9^th	11^th	12^th	9^th	7^th	13^th	10^th	12^th	14^th	7^th
Tennessee	3^rd	9^th	10^th	8^th	12^th	18^th	19^th	17^th	7^th	5^th	12^th	8^th	8^th	12^th	13^th	11^th	12^th
Texas	13^th	10^th	19^th	18^th	16^th	12^th	13^th	11^th	12^th	9^th	14^th	15^th	15^th	9^th	11^th	13^th	6^th
Utah	1^st	1^st	1^st	1^st	1^st	1^st	1^st	1^st	1^st	1^st	1^st	1^st	1^st	1^st	1^st	1^st	1^st
Vermont	50^th	49^th	49^th	49^th	49^th	50^th	49^th	49^th	49^th	49^th	49^th	49^th	49^th	49^th	47^th	49^th	49^th
Virginia	5^th	4^th	8^th	3^rd	3^rd	5^th	11^th	12^th	13^th	11^th	10^th	14^th	16^th	17^th	24^th	18^th	22^nd
Washington	30^th	22^nd	24^th	33^rd	33^rd	36^th	38^th	35^th	36^th	40^th	37^th	37^th	39^th	37^th	39^th	34^th	37^th
West Virginia	38^th	33^rd	27^th	31^st	30^th	32^nd	30^th	36^th	37^th	31^st	30^th	31^st	28^th	32^nd	25^th	28^th	23^rd
Wisconsin	33^rd	27^th	23^rd	30^th	32^nd	15^th	17^th	13^th	9^th	14^th	19^th	17^th	12^th	15^th	14^th	17^th	21^st
Wyoming	4^th	6^th	6^th	4^th	4^th	4^th	10^th	8^th	4^th	7^th	8^th	10^th	2^nd	4^th	10^th	6^th	8^th

Economic Performance

This is a backward-looking measure based on the state’s performance (equal-weighted average) in three important performance variables. These variables are highly influenced by state policy.

Economic Performance Ranks (2024)

Economic Performance Ranks (2024)

From the 2024 edition of Rich States, Poor States. These values are the most recent available at the time of publication.

ME 18

VT 39

NH 20

WA 8

ID 2

MT 14

ND 37

MN 27

IL 43

WI 30

MI 31

NY 29

RI 41

MA 25

OR 13

NV 7

WY 44

SD 17

IA 36

IN 19

OH 33

PA 42

NJ 34

CT 48

CA 21

UT 3

CO 5

NE 23

MO 26

KY 24

WV 47

VA 28

MD 45

DE 22

AZ 4

NM 38

KS 35

AR 15

TN 12

NC 11

SC 10

OK 32

LA 50

MS 40

AL 16

GA 9

AK 49

HI 46

TX 6

FL 1

State	2024 Ranking
Alabama	16^th
Alaska	49^th
Arizona	4^th
Arkansas	15^th
California	21^st
Colorado	5^th
Connecticut	48^th
Delaware	22^nd
Florida	1^st
Georgia	9^th
Hawaii	46^th
Idaho	2^nd
Illinois	43^rd
Indiana	19^th
Iowa	36^th
Kansas	35^th
Kentucky	24^th
Louisiana	50^th
Maine	18^th
Maryland	45^th
Massachusetts	25^th
Michigan	31^st
Minnesota	27^th
Mississippi	40^th
Missouri	26^th
Montana	14^th
Nebraska	23^rd
Nevada	7^th
New Hampshire	20^th
New Jersey	34^th
New Mexico	38^th
New York	29^th
North Carolina	11^th
North Dakota	37^th
Ohio	33^rd
Oklahoma	32^nd
Oregon	13^th
Pennsylvania	42^nd
Rhode Island	41^st
South Carolina	10^th
South Dakota	17^th
Tennessee	12^th
Texas	6^th
Utah	3^rd
Vermont	39^th
Virginia	28^th
Washington	8^th
West Virginia	47^th
Wisconsin	30^th
Wyoming	44^th

Economic Outlook

Current Economic Outlook Ranks (2024 Edition)

United States Overview (2024 Edition)

State Rank Trends (2008 - 2024)

Economic Performance

Economic Performance Ranks (2024)

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Rich States, Poor States 16th Edition

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