Best and Worst States for Taxes for Startup Companies
Best and Worst States for Taxes for Startup Companies
Startup companies face many forms of opposition as they set out to change the world, or at least carve out their own niche – even though they are typically working to provide solutions. That doesn’t mean that people or other businesses oppose them, necessarily, but rather there are so many difficult things they have to overcome and fight through to become successful; not the least of which is their taxes.
When it comes to taxes and startup companies, location does matter. According to are cent study from CRN, your efforts to provide solutions for change will be challenged more by higher taxes depending on where you live. According to the study, the ten best places for Millennials to start a business when it comes to taxes are as follows: Mississippi, Nebraska, Missouri, Arizona, New Mexico, Indiana, Delaware, Ohio, Oklahoma and Florida.
On the other end of the spectrum, if you want to change the world with your startup company then you might want to avoid these 10 states, which were rated the worst for startup companies when it comes to taxes: Idaho, New Jersey, Illinois, Maine, New Hampshire, Kentucky, Arkansas, Massachusetts, Pennsylvania and the worst being Rhode Island.
So, if you want to start a company to help solve a problem, you might first want to consider relocating to one of the top 10 states on this list, especially if you live in one of the bottom ten.
http://www.crn.com/slide-shows/channel-programs/300082410/2016-best-and-worst-states-for-taxes-for-solution-provider-startups.htm?itc=ticker
We hope you found this article about “Best and Worst States for Taxes for Startup Companies” helpful. If you have questions or need expert tax or family office advice that’s refreshingly objective (we never sell investments), please contact us or visit our Family office page or our website at www.GROCO.com. Unfortunately, we no longer give advice to other tax professionals gratis.
To receive our free newsletter, contact us here.
Subscribe to our YouTube Channel for more updates.
Alan Olsen, is the Host of the American Dreams Show and the Managing Partner of GROCO.com. GROCO is a premier family office and tax advisory firm located in the San Francisco Bay area serving clients all over the world.
Alan L. Olsen, CPA, Wikipedia Bio
GROCO.com is a proud sponsor of The American Dreams Show.
The American Dreams show was the brainchild of Alan Olsen, CPA, MBA. It was originally created to fill a specific need; often inexperienced entrepreneurs lacked basic information about raising capital and how to successfully start a business.
Alan sincerely wanted to respond to the many requests from aspiring entrepreneurs asking for the information and introductions they needed. But he had to find a way to help in which his venture capital clients and friends would not mind.
The American Dreams show became the solution, first as a radio show and now with YouTube videos as well. Always respectful of interview guest’s time, he’s able to give access to individuals information and inspiration previously inaccessible to the first-time entrepreneurs who need it most.
They can listen to venture capitalists and successful business people explain first-hand, how they got to where they are, how to start a company, how to overcome challenges, how they see the future evolving, opportunities, work-life balance and so much more..
American Dreams discusses many topics from some of the world’s most successful individuals about their secrets to life’s success. Topics from guest have included:
Creating purpose in life / Building a foundation for their life / Solving problems / Finding fulfillment through philanthropy and service / Becoming self-reliant / Enhancing effective leadership / Balancing family and work…
MyPaths.com (Also sponsored by GROCO) provides free access to content and world-class entrepreneurs, influencers and thought leaders’ personal success stories. To help you find your path in life to true, sustainable success & happiness. It’s mission statement:
In an increasingly complex and difficult world, we hope to help you find your personal path in life and build a strong foundation by learning how others found success and happiness. True and sustainable success and happiness are different for each one of us but possible, often despite significant challenges.
Our mission at MyPaths.com is to provide resources and firsthand accounts of how others found their paths in life, so you can do the same.
These Illegal Tax Moves Could Cost You Big
These Illegal Tax Moves Could Cost You Big Everybody fibs on his or her taxes right? What’s a few dollars here and there? The IRS will never notice it. While it’ true that many taxpayers alter the real numbers on their tax returns and get away with it, honesty is always the best policy. Cutting…
Top Ways to Improve Your Leadership Skills
Top Ways to Improve Leadership Skills. You know there’s always room for more growth, more learning, and more improvement. Good leaders know they can always get better. They don’t become leaders by becoming complacent. So, since you’re like most good leaders and you recognize the need for continuing improvement, the next question is, how do…
Tax Filing Issues Have Jumped Greatly in 2019
Tax Filing Issues Have Jumped Greatly in 2019 Much of the news this tax-filing season has been about the changes in tax law, as well as the average refund amount. But there are other tax filing issues making news. In fact, that’s the exact problem. The 2019 tax season has been full of issues. According to statistics from the…
What Makes a Boss Truly Great?
What Makes a Boss Truly Great? How do you feel about your boss? If you’re a boss, how do your employees feel about you? In reality, the term boss doesn’t have the greatest connotation. That being said, some people still have great “bosses.” But what makes a boss, or a leader, great? Great companies offer their…