Best and Worst States for Small Business

Third-best: Texas

Top personal income tax rate: 0%
Top individual capital gains rate: 0%
Top corporate income tax rate: 0%
Top corporate capital gains rate: 0%
Gas tax: 20 cents
Wireless tax: 12.6 cents
Internet access tax: Yes

The business climate for big and small companies is strong in the state.

Like its cohorts in the top five, Texas demands no personal income, individual capital gains, corporate income, corporate capital gains or death taxes of residents and businesses. The Alamo State also has a low level of state and local government spending and low workers compensation costs.

The U.S. Department of Commerce ranked Texas the top exporting state in 2011 for the 10th year in a row. Roughly $250 billion in Texas-manufactured goods were exported to Mexico, Canada, China, Brazil and the Netherlands, among other countries. Its top exporting industries last year were petroleum and coal products, chemicals, computer and electronic products, nonelectrical machinery and transportation equipment, according to a release last week by Gov. Rick Perry's office.

On the other hand, it has high property and consumption-based taxes, a large number of health insurance mandates and a very high crime rate, the report says.

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