(The Center Square) – Nevada fell out of the top-10 list in the latest “Rich States, Poor States” publication from American Legislative Exchange Council.
The Silver State was 10th last year and now sits 13th in the annual report from co-authors Arthur B. Laffer, Stephen Moore, and Jonathan Williams. Nevada is seventh when it comes to economic performance, the report found.
Despite the slip in outlook, Williams said Nevada has a very competitive overall economic environment by avoiding a personal income tax and being a “Right to Work” state. Nevada is tied for first place in both categories, according to the report.
“I think the critique of Nevada and why it probably fell several spots is you’re in the top 10 or top 15 states, it’s a very competitive environment and you can fall behind by standing still, and I think it’s very true as we’ve seen you know half of the states cuts taxes over the last three legislative sessions,” Williams, ALEC’s chief economist, told The Center Square. “Nevada has not been a big tax-cutting state even though they have an overall good climate, business climate, good policy climate, and other states are overtaking them because they have moved more abruptly and moved more dramatically on tax cuts.”
Williams added that another issue that kept Nevada out of the top 10 this year is its sales and gross receipts tax burden.
“Both of those coming in at 48th with 50th being worst in those subcategories in the Rich States, Poor States rankings,” said Williams.
This is the 17th edition for the publication. Nevada ranked 6th in the 15th edition of Rich States, Poor States.
