A new study finds that Texas is the best U.S. state to start a business. The Lone Star State was named the best place for startups in WalletHub’s “2018’s Best & Worst States to Start a Business” report released on Monday. The personal finance website compared all 50 states and ranked them across three categories: business environment, access to resources, and business costs. Then, they evaluated 25 subset metrics representing the most favorable conditions for startup creation, longevity, and success.The study’s team of experts also factored in the Trump administration’s economic policies (i.e., Tax Cuts and Jobs Act of 2017), state corporate tax rates, tax breaks, and other incentives that may encourage an entrepreneur to start a new business. WalletHub noted that roughly one fifth of all U.S. startups fail within their first year of operation. Nearly half never reach five years. Study analyst Jill Gonzalez told Breitbart Texas that the Lone Star State scored big when they examined “state and local tax rates.” The state’s low taxation, low regulation, and business-friendly policies have been attractive to innumerable companies relocating or expanding into Texas. Utah (2), Georgia (3), Montana (4), and Oklahoma (5) followed Texas in the top five. Florida, North Dakota,… Read full this story
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