Due to higher average energy costs, salaries and an 8.5% corporate tax rate, 7th highest in the nation, California ranked as the most expensive state to run a business, according to a review by Approve.com.
With a higher average salary, internet costs and corporate tax rate, New Jersey was the second most expensive state for running a business, while Vermont rounded out the top three.
The above slideshow highlights the least expensive states for running a business based on top corporate income tax rates and average costs for salaries, electricity (cents per kWh), internet service (price per Mbps) according to research from Approve.com. The study includes Washington D.C., but excludes Hawaii or Alaska due to "unavailable data," according to the site.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
- Educational webcasts, resources from industry leaders, and informative newsletters.
- Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Steve Hallo
Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected]
