- Wyoming tops the list as the state most interested in starting a business
- Delaware and Florida follow in second and third place, respectively
- Data was obtained from the United States Census Bureau to determine the ranking
New research has revealed the states most interested in starting a business, with Wyoming taking the top spot.
Business valuation experts at Eton Venture Services analyzed data from the United States Census Bureau on the number of business applications per state, excluding applications from corporations; the figures were weighed against the population to determine the final ranking.
Wyoming tops the list as the state most interested in starting a business, with a staggering 879.08 business applications per 100,000 residents. One of the many benefits of starting a business in Wyoming is that residents are not required to pay corporate income tax or franchise tax.
In second place is Delaware, with 423.25 business applications per 100,000 citizens. While Delaware entrepreneurs must pay a franchise tax to register a business, there are no sales or investment income taxes in this state.
Third place goes to Florida, with 229.44 business applications per 100,000 residents. The Sunshine State is particularly suitable for LLCs and S corporations as they are exempt from state income tax.
Montana takes the fourth spot, with 191.10 business applications per 100,000 people. The LLC filing fee is extremely low in Montana at just $35, with a small extra cost of $20 annually.
Georgia ranks fifth, with 185.75 business applications per 100,000 citizens. Earnings through return on investment (ROI) in The Peach State are not subject to self-employment tax as long as employees or stockholders receive compensation for labor.
In sixth place is Colorado, with 169.68 business applications per 100,000 residents. Like Montana, Colorado also has a low LLC filing fee of $50 as well as $10 every following year.
Utah…
Read the full article here
