Dealing with escheatment is never easy, but which states you report to can make a big difference in just how big of a headache it is. The Council on State Taxation (COST) put together a list of the best — and worst — states for holders of unclaimed property. The study “graded” each state based on key criteria that can make compliance more difficult for companies such as whether:

• B-to-B transactions are escheatable
• there is an independent administrative appeals process
• gift certificates are escheatable, and
• the state uses fee-based auditors.

According to the study, 8 states ranked a B+ or higher. They are:

• Kansas (A)
• Arizona  and Wisconsin (A-)
• Indiana, Maryland, Massachusetts, North Carolina, and Virgina (B+).

The nine least business friendly states rated a D+ to F. They are:

• New Hampshire, Utah, Wyoming (D+)
• Pennsylvania (D)
• Georgia, Mississippi, New York, Oregon (D-)
• Delaware (F).

Visit COST’s site to download the entire results.

Tags: A/P, Resource, Unclaimed propert