Americans can see how their states rank for overall economic liberty.
They can also see how states rank for fiscal policy.
Today let’s look at how various states rank based on whether they are good places to create a small business.
Unsurprisingly, having no state income tax helps, but that is just one variable. It is also very important to have modest fees.
The top three states are Wyoming, Florida, and South Dakota.
Here’s some discussion of the ratings, including methodology.
Brand new research conducted by small business advice company Venture Smarter reveals the best and worst states to startup an LLC. The experts have indexed all 50 U.S states (plus DC), ranking each against six factors necessary for starting up an LLC, to receive a score out of 100. …Rankings are based on factors including LLC annual fees, LLC filling fees, average LLC agreement bid costs (from professional in States required to have one), advertising and publishing costs, tax climate index scores, and number of small businesses per 100K residents.
And which states are worst?
California is in last place, followed by New York and Delaware.
I’m somewhat surprised to see a very bad score for Delaware.
The state is famous, after all, as a tax haven for companies. I wonder if this is a case of the state charging high fees because it actually provides high value?
