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Newport News Economy
State and Local Tax Burdens on Businesses

Average Percentage Rates

Newport News

5.03%

Alabama

4.91%

Arizona

11.14%

Arkansas

7.14%

California

6.73%

Florida

10.25%

Georgia

7.77%

Illinois

6.80%

Indiana

10.96%

Kentucky

7.59%

Louisiana

11.54%

Massachusetts

8.02%

Michigan

9.74%

Mississippi

9.56%

New York

6.41%

North Carolina

6.48%

Ohio

10.78%

Pennsylvania

10.43%

South Carolina

8.44%

Tennessee

9.86%

Texas

11.11%

* Automotive parts manufacturing, food processing, furniture, machinery, medical technology, pharmaceuticals, textiles, biotechnology, business services, commercial banking, retail trade, wholesale trade

Source: KPMG Peat Marwick

by Selected Industry *

Newport News

North Carolina

21-State Average*

Manufacturing

Automotive Parts

4.92%

6.19%

8.47%

Machinery

4.12%

5.46%

7.07%

Medical Technology

5.60%

6.17%

8.79%

Pharmaceuticals

3.58%

4.78%

5.41%

Biotechnology

7.72%

10.71%

14.82%

Business Services

4.36%

6.43%

8.12%

Commercial Banking

3.75%

6.19%

6.79%

Wholesale Trade

4.86%

5.14%

7.44%

* Alabama, Arizona, Arkansas, California, Florida, Georgia, Illinois, Indiana, Kentucky, Louisiana, Massachusetts, Michigan, Mississippi, New York, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee, Texas, Virginia

Source: KPMG Peat Marwick

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