Nevada is still one of the top 10 states to do business in, but it fell five spots from last year, according to a survey by Chief Executive Magazine.
Nevada ranked No. 10 this year on the publication's list, down from No. 5 in 2010. The state ranked No. 6 in 2009.
Chief Executive polled more than 500 CEOs on a range of criteria, from taxation and regulation to workforce quality and living environment, for the annual ranking of the best states for business.
CEOs surveyed for the website gave Nevada four out of five stars for taxation and regulation, workforce quality and living environment. The report also noted that Nevada fared better than most other states in debt per capita, ranking 45th, at $1,690 per person.
Texas took the No. 1 spot once again as the best state to do business and North Carolina followed at No. 2. California and New York took No. 50 and No. 49, respectively, for the second year in a row.