10 Best States to Start a Small Business
November 28, 2007
CNN’s Best states for starting a small business. Some useful information for those who need the motivation and those needing to find some better rates. Starting your own company isn’t as hard as you think, but you do have to think, and you definitely have to know what to expect. Remember that even if you’re not located in one of these states, you might one day do business with a company who is.
1. South Dakota
- Top personal income tax - 0%
- Top corporate income tax rate - 0%
- Property tax - 2.90%
- Minimum wage - $5.85
2. Nevada
- Top personal income tax - 0%
- Top corporate income tax rate - 0%
- Property tax - 2.69%
- Minimum wage - $6.33
3. Wyoming
- Top personal income tax - 0%
- Top corporate income tax rate - 0%
- Property tax - 24.69%
- Minimum wage - $5.85
4. Washington
- Top personal income tax - 0%
- Top corporate income tax rate - 0%
- Property tax - 2.97%
- Minimum wage - $7.93
5. Florida
- Top personal income tax - 0%
- Top corporate income tax rate - 0%
- Property tax - 3.37%
- Minimum wage - $6.67
6. Michigan
- Top personal income tax - 0%
- Top corporate income tax rate - 0%
- Property tax - 3.90%
- Minimum wage - $7.15
7. Texas
- Top personal income tax - 0%
- Top corporate income tax rate - 0%
- Property tax - 1.11%
- Minimum wage - $5.85
8. South Carolina
- Top personal income tax - 0%
- Top corporate income tax rate - 0%
- Property tax - 3.11%
- Minimum wage - $5.85
9. Virginia
- Top personal income tax - 0%
- Top corporate income tax rate - 0%
- Property tax - 2.96%
- Minimum wage - $5.85
10. Alabama
- Top personal income tax - 0%
- Top corporate income tax rate - 0%
- Property tax - 1.33%
- Minimum wage - $5.85
