It's not only taxes, but taxes have played a major role in the state's poor business climate. Some of the state's major employers have moved or threatened to m

It's not only taxes, but taxes have played a major role in the state's poor business climate. Some of the state's major employers have moved or threatened to move out of the state in order to motivate other states to offer financial incentives to stay. GE left for Boston [1]. Aetna left for New York [2]. Stamford grew to support UBS and RBS, only to see them depart ... leaving enormous vacancies in prime real estate. You can find varying polls rating the business climate, but Connecticut has been ranked towards the bottom of many of those [4], with the state capital facing potential bankruptcy. State and Local Tax Burden Rankings study reported that Americans paid an average rate of 9.9 percent in state and local taxes in 2012. According to the foundation, the five highest state-local tax states were [4]: New York 12.7 % Connecticut 12.6% New Jersey 12.2% Illinois 11.0% California and Wisconsin 11.0% 2014 CNBC Top States for Business (Connecticut ranked #46) [5]: Economy – 49th Cost of living – 48th Cost of doing business – 47th Infrastructure – 42th [1] http://www.nationalreview.com/article/429874/ge-leaves-connecticut-boston-blame-taxes http://www.nationalreview.com/article/429874/ge-leaves-conne... [2] https://www.bloomberg.com/news/articles/2017-06-29/aetna-s-departure-from-connecticut-latest-hit-to-embattled-state https://www.bloomberg.com/news/articles/2017-06-29/aetna-s-d... [3] http://www.hartfordbusiness.com/article/20170509/NEWS01/170509928/survey-ct-ranked-5th-worst-state-for-business http://www.hartfordbusiness.com/article/20170509/NEWS01/1705... [4] https://turbotax.intuit.com/tax-tips/fun-facts/states-with-the-highest-and-lowest-taxes/L6HPAVqSF https://turbotax.intuit.com/tax-tips/fun-facts/states-with-t... [5] http://www.ctcpas.org/content/26536.aspx http://www.ctcpas.org/content/26536.aspx