The Small Business and Entrepreneurship Council has released its annual ranking of state tax burdens, factoring in income taxes, sales taxes, excise taxes and more. South Dakota, Nevada and Wyoming take the honors for lowest taxes, while Minnesota, New Jersey and the District of Columbia are at the other extreme. Because taxes are a major predictor of entrepreneurial activity, "Look for the bottom states to lag when the recovery begins to get in gear," writes Jeff Cornwall of Belmont University.

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