If you are looking for a place to start or grow a new business, then you have to choose the best state in the U.S. for your business and work hard for the long term. There is a lot of information on the internet about the best places to start a business but why would you do research when we have already listed it to you?
As advised by LLCGuys.com – some states are better than others, so let’s dive in and find out more.
The Best US State for New Businesses
If you’re among the early-stage startups trying to get your business off the ground, you may find the process daunting. You may have the desire to get the job done, but you may not have the time to do it right. If you’re thinking about starting a business, one of the first questions you have to ask yourself is which state you should choose. After all, the tax rates, cost of living, and other economic factors vary greatly between states, and not every business that is successful anywhere can be successful in every state.
That is why if you are looking for that business-perfect place for you, then you might want to check onto the following states:
- California
California is one of the most populous states in the United States and is also one of the best states in the country if you want to start a new business. It is well-known for its entrepreneurship and innovation, with firms such as Google, Tesla, and Snapchat all located in the state. It is also one of the most business-friendly states with a ‘low’ corporate tax rate and very low annual individual income tax withholdings
Here is a quick video explaining how to start an LLC in California:
- Utah
The past few years have been a tough time for many Utah companies, but the state is making strides to turn things around, starting with our low tax base, related to the high cost of living in Utah. It is a great time to start a new business, as the competition for customers is increasing. Utah has a low cost of living and low taxes for business owners, making it one of the best states for new businesses.
- Colorado
There are a lot of things that Colorado is known for, but the tax climate is one of them. Without a doubt, the state is one of the most business-friendly in the country. This means we have low taxes and a very simple tax code. Additionally, Colorado is one of the few states that doesn’t charge personal income taxes… that is, if you’re an S Corp (Subchapter S).
- North Dakota
North Dakota is a state that many people associate with not being very friendly for new businesses. However, a new report from BizFilings.com found that North Dakota is one of the best states in the country for new business. BizFilings ranked North Dakota as one of the top ten states for new business, with one of the lowest business costs in the country.
- Georgia
Georgia is one of the best states in the United States for your new business. Georgia has a long-standing history of business success, with the Atlanta region prospering as a major hub for technology and other industries. With the right business plan and the right location, you can get started. The expert business lawyers there can help you set up your business in one of the top states in the nation.
- North Carolina
North Carolina has one of the lowest business tax rates in the United States, with a 2 percent sales tax and 6.8 percent corporate tax, making it one of the best places to start a company. The land in the state is beautiful and the cost of living is reasonable.
- Texas
There are various factors that make Texas one of the best states in the US for your business. Texas is the second-largest state in the union, boasting almost 28 million people and an economy that is the second largest in the US. It is also one of the most diverse states in the country, with over 100 languages spoken by a population outside of the US. In addition, Texas is also a great place to start a business. It has a low cost of living, low unemployment rate, and a business-friendly environment.
- Massachusetts
If you are looking for a state that is business-friendly and offers a wealth of opportunity, then Massachusetts might be perfect for your new LLC. The Bay State is home to a well-educated workforce, a bustling economy, and has a well-developed infrastructure to support businesses. Massachusetts’ entrepreneurs are sure to be happy with the state’s low costs of living, affordable taxes, and skilled workforce. In addition, thanks to its business-friendly culture and favorable climate, Massachusetts is one of the few states to actually grow its economy.
- Florida
In Florida, business is buzzing about the state’s business-friendly environment, which makes it a great location for aspiring entrepreneurs. Florida is one of the top states for start-ups, ranking 5th in the nation for business creation, and is home to one of four regional centers for the Small Business Administration. Whether you want to start a retail store or a small manufacturing company, Florida is a good place to start.
- Idaho
Idaho has a lot to offer entrepreneurs looking to start a business. The state has the fifth-lowest barrier to entry in the country and boasts a 4.8% job growth rate, the third-highest median household income, and a 3.2% unemployment rate. Idaho is a great place to start a business because it has a low cost of living and is filled with many talented people. The venture capital community is also well situated to help startups grow and thrive. Our state is also one of the best states in the U.S. for manufacturing because of the low cost of energy, low taxes, and tons of opportunity.
After researching the best states in the country, we came up with a list of the best states for your new business. Some of the areas that made the list are top educational hubs, great business climates, and small-town diversity. Each state has something to offer the entrepreneur, so it is important to choose the state that matches your personality, goals, and location.
