6. Texas

Texas Score and Ranking

OVERALL 6 5

Economic Profile

Governor: Greg Abbott, Republican

Population: 30,029,572

GDP growth (Q1 2023): 3.0%

Unemployment rate in May 2023: 4.10%

Tax rate for corporations:

Tax rate for individuals:

Gasoline tax is 38.40 cents per gallon

Bond rating (Moody's/S&P: Aaa/AAA/Stable

Economic profile sources include: U.S. Census Bureau (including federal tax of 18.40 cents per gallon), U.S. Bureau of Economic Analysis (including U.S. Bureau of Labor Statistics), Federation of Tax Administrators and American Petroleum Institute.