The Top 20 States to Start a Small Business

Entrepreneur / Featured / Tips

Where can you as an entrepreneur get the most bang for your buck as far as not getting hosed on taxes? Well, according to the story I just read you are going to be surprised.

I was.

And I am sorry but I’m going to refute a couple of these. Apparently number 9 is Ohio and here are the stats.

Personal income tax rates: 6.240%  (#30)

Corporate income tax rates: 0.00% (#1t)

Property taxes: 3.28% (#30)

Crimes per 100 residents: 3.60 (#31)

I live in Ohio, and I know plenty of folks who own businesses here. Here are the problems that I have with opening a business in Ohio. I don’t like the fact that there is a different local tax in every little neighborhood they call a city. So you could be working in one side of the road and across the street you do more work and you have two different tax rates. You have two different forms to file. You have school district tax to bleed more of your check. It’s really difficult to think how Ohio could be in the top 10 let alone top 30.

A couple other states that surprise me being on this list are number 8 South Carolina and and number 20 Georgia.  But without making you wait any longer here is the list.
Read more: http://www.businessinsider.com/best-state-for-your-small-business-2011-1#9-ohio-12#ixzz1BSGkFoQR
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