Seder & Chandler, LLP
Worcester 508-471-3018
Westborough 508-709-0024

Boston listed as one of top cities to start a business

The Tax Foundation, a tax research group based in the nation's capital released a new study called, "Location Matters: A Comparative Analysis of State Tax Costs on Businesses." Looking at several corporate tax categories and other regulations they determined the best and worst countries and states in which to start different companies. Boston, Massachusetts, was one of the top-ranked U.S. destinations for business formation.

The report compared different types of entities such as corporate headquarters, retail stores, research and development facilities, and call, distribution and manufacturing centers. The study also reviewed benefits to small business owners compared to large corporate benefits. Other criteria included personal, corporate and property tax rates, utility costs, crime rates and health insurance mandates. Some indexes say business owners should also consider states that have the most business-friendly public policies and nonpartisan advocacy organizations that protect and promote small businesses.

Of course, the way your structure your company will have more to do with your perceived benefits or the amount of personal income tax you pay than anything else, no matter where it's located. And, many of those perceived benefits don't really apply to small business owners anyway. In addition, you must have a physical presence in the state that you file your business taxes in.

The group also looked at how different cities and countries support or encourage the entrepreneurial spirit. Some business leaders believe that moving to an area like Silicon Valley with your new techie start-up is a good idea if you want to be embedded among like-minded colleagues. Other believes you should start your business in states that have the lowest average tax burdens because they affect your company's bottom line. But off course, nothing compares to starting a business in a community where you live with established connections and potential clients or customers.

Source: sfgate.com, "Best States To Start Your Business In," Amy Fontinelle, May 16, 2012

No Comments

Leave a comment
Comment Information
Get Legal Help Now

Contact Us Today To Learn More

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Worcester Office
339 Main Street
Suite 300
Burnside Building
Worcester, MA 01608

Phone: 508-471-3018
Worcester Law Office

Westborough Office
1900 West Park Drive
Suite 280
Westborough, MA 01581

Phone: 508-709-0024
Westborough Law Office