Best and Worst States for Taxes for Startup Companies

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, CPA

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.

 

American-Dreams-Show-Accounting-firm-in-ca-cpa-tax-advisors-groco-alan-olsen

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…

Untitled_Artwork copy 4

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.

Posted in

Communication Between Managers and their Employees

By Emily Topham Communication Between Managers and Their Employees   Managers have a daunting task—finding the right level of communication between them and their employees. It can be difficult for new managers to transition into the level of communication that is required by a leadership position. But discovering how to communicate well can make or…

Which States Are Good, and Bad, for Taxes?

How attached are you to the state you live in? Although most people would rather not relocate, where a person lives can actually make a huge difference in his or her tax bill. That’s because Kiplinger recently released its list of the most and least “tax-friendly” states when it comes to taxes. The business publisher…

How Are Some Big U.S. Companies Shrinking Their Tax Bill?

Every company wants to save on its tax bill. Although tax inversions have been making a lot of news lately, there are many other methods that corporations use to cut back on their taxes. In fact, seven companies in the S&P 500 index, including some big names that everyone is familiar with, have been able…

Democrats Take Dead Aim at Tax Inversions

The democrat lead U.S. Senate has been making a lot of noise lately regarding tax inversions, the practice of U.S. companies moving their corporate headquarters overseas in order to avoid the high price of overbearing U.S. corporate taxes. Those senators have apparently made good on a recent promise that they would look to put a…