The state has had the worst tax climate for four straight years. This year, New Jersey is out of the top spot. The new Tax Foundation rankings have the state ranked 48th, up two spots. California and New York now rank 49th and 50th respectively. The veto of the millionaire’s tax was credited as one of the reasons. The study focuses on business-friendly tax climate. Christie was happy with the work, but said more needs to be done.