Florida, once again, has been ranked the number-one state in the United States in terms of economic freedom by the CATO Institute.
For the past several years, Florida has consistently ranked at the top spot in the economic freedom category of CATO’s Freedom in the 50 States, an index of personal and economic freedom. Florida does not have a state individual income tax, CATO’s analysis of the ranking stated. “Florida’s state-level tax collections are more than 1.5 standard deviations below the national average, whereas its local tax collections are a little lower than average,” the institute said.
