Citing both the state’s tax climate and high number of startup entrepreneurs, the personal finance news and features website GOBankingRates.com finds the Cowboy State as the most-favorable place in the nation to begin a new business.
In its report released Sept. 26, the site ranked Wyoming as the best state to start a business.
According to the report, the state’s business tax climate makes it the most “conducive to starting a business.” Citing figures from the nonpartisan think tank the Tax Foundation, it credited Wyoming for lack of both corporate and personal income taxes, as well as for not levying a gross receipts tax.
“And, Wyoming’s sales tax rate is favorable, ranking in the top 25 percent of states for best sales tax,” the report says.
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