Despite a reputation for not being particularly business friendly, Baltimore has among the least onerous tax burden for businesses among major U.S. cities, according to new research by KPMG.
The Baltimore area was ranked the third most "tax competitive" large city in the country in a report released Wednesday that evaluated metropolitan areas with more than 2 million people. The region ranked twelfth among 111 international cities.
KPMG's Total Tax Index factors in corporate income, capital, sales, property and other local business taxes, plus now-wage labor costs. The ranking is not a measure of which cities have the lowest tax rates, but rather an analysis of which cities have the least tax burden for busineses.
Cincinnati and Cleveland topped the list. New York, Los Angeles and San Francisco came in last.
The tax rankings are part of KPMG's 2016 Competitive Alternatives study, which measures business costs in 111 cities across 10 countries. The U.S. ranked seventh overall.