When it comes to a favorable climate for doing business, Wyoming, Florida and Texas are regarded as the best states and New York, New Jersey and California are the worst among the 50 states. At least that's the view of the conservative Washington-based Tax Foundation.

Tennessee ranked 15th in the Tax Foundation's 9th annual tax climate study. The Volunteer State has the 8th best individual tax rate but ranked 43rd for its relatively high sales tax rate.

Georgia ranked 34th in the Tax Foundation climate study.