If you can make it in New York, as the Sinatra song says, you can make it anywhere. And when it comes to making money, it’s never been truer: The Tax Foundation’s latest survey finds New York is the worst state in the U.S. for business.

A combination of high individual income tax, a high unemployment insurance tax and a high property tax land New York at the bottom of the list.  Here are the five worst states for business when it comes to taxes, according to the survey.

  • 1No. 50: New York

    Reuters

    New York is 49th when it comes to the individual income tax, and 45th for both the unemployment insurance tax and property tax.

  • 2No. 49: New Jersey

    Reuters

    Right next door to New York, New Jersey is 50th for the property tax and 48th for its individual income tax. “New York and New Jersey are in a virtual tie for last place, and any change next year could change their positions,” write Tax Foundation Index authors Scott Drenkard and Joseph Henchman.

  • 3No. 48: California

    Reuters

    California is dead last when it comes to its individual income tax, though its unemployment insurance tax and property tax rank relatively well.

  • 4No. 47: Minnesota

    Reuters

    Drenkard and Henchman point out that Minnesota recently enacted tax changes including a retroactive increase in the individual income tax, hurting the state’s ranking.

  • 5No. 46: Rhode Island

    Reuters

    The smallest state pays big taxes, ranking 50th in terms of its unemployment insurance tax and 46th for its property tax.

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