We're #2 - and that's a good thing.
As I note from this article out of Wisconsin, the Tax Foundation is noting that for 2007, South Dakota is #2 in favorable business tax climate:
The latest state-by-state ranking of business climates is available. The 2007 version of the State Business Tax Climate Index was prepared by the Tax Foundation in Washington, D.C.Read it all here.
Five areas of taxation were examined to compile the rankings: individual income taxes, major business taxes, sales taxes, unemployment insurance taxes and taxes on wealth or assets (that would include property taxes).
The five states with the best business climates are Wyoming, South Dakota, Alaska, Nevada and Florida. Wyoming and South Dakota do not have corporate or individual income tax, Alaska does not have individual income or sales tax, Florida does not have individual income tax and Nevada does not have corporate income tax.