Boston ranks 10th on KPMG survey for US cities with friendly tax structures for business
Boston placed 10th among US urban areas in an international survey of cities that offer the most favorable tax structures for businesses.
The survey, a study of 55 cities from around the world, was issued by KPMG International, a large audit, tax, and advisory firm. The firm broke down results both globally and by US cities.
Among US cities, the survey found that Cincinnati, Baltimore, and Cleveland offer the most favorable tax structures for businesses among urban areas with populations of greater than 2 million. It was in this US category that Boston ranked 10th. Among the 55 international cities, Boston placed 25th.
KPMG said it compiled the ranking by using what it calls a total tax index. That index is a measure of the total taxes paid by corporations in a particular location and industry, expressed as a percentage of total taxes paid by similar corporations in US baseline cities. US Baseline cities include New York City, Los Angeles, Chicago, and Dallas-Fort Worth.
Of the 55 large international cities examined in the survey Cincinnati, Baltimore, and Cleveland all ranked in the top 20 – ranking 16th, 17th, and 18th, respectively. Among the 14 countries in the study, the United States ranked eighth in terms of favorability of its overall tax structure for business. KPMG said.Chris Reidy can be reached at firstname.lastname@example.org.