Nevada Is The Cheapest State To Start A New Business
A recent study has revealed that Nevada is the least expensive state in our nation in which to start a new business. One of the main reasons our home state scored so high in this study is the 0% corporate tax rate.
According to an article written by KTNV Staff on KTNV.com, a company called Simplify LLC conducted the study based on statistics provided by the Bureau of Labor Statistics, the Small Business Administration, and the Census Bureau. The stats show that Nevada business owners pay their workers an average of just under $52,000 each year. The average monthly electric bill in our state runs around $463 dollars and change. Businesses pay a 0% corporate income tax rate, but they do have to pay taxes on their gross receipts.
It is interesting to note that six of the top ten least expensive states in which to start a business are located in the western part of the United States. Colorado, Montana, Wyoming, Idaho and Arizona are the neighboring states that scored high in this study. The most expensive state in the country to start a business is Minnesota, followed closely by New York, Louisiana and Alabama.
Simplify LLCÂ came up with their scores by reviewing data in “nine business cost-related factors in these categories â basic business costs, labor costs and worker availability, cost of space and utilities, and healthy business environment.” Our state’s lowest score came in the “Qualifications” category which measured the “percentage of post-college age adults with at least a bachelor’s degree.”
You can review all of the stats and charts assembled by Simplify LLC by CLICKING HERE.
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Larry Martino is the long-time Afternoon Drive personality on 96.3 KKLZ. The views and opinions expressed in this blog are those of Larry Martino and not necessarily those of Beasley Media Group, LLC.
The Top 5 States With The Best Work-Life Balance
5) Utah
Our neighbors to the east, Utah, rank fifth in this study. Per the article: “State residents spend an average of 37.5 hours working, 3.46 enjoying leisure activities, and 8.36 hours sleeping.”
4) Wyoming
Assaf’s article reports: “Residents of the Cowboy State apparently really like (or need!) their sleep, receiving a reported 9.1 hours per night on average. Wyomingites also work an average of 36.05 hours per week and have 3.54 leisure hours per weekday, which puts them in fourth place on our list.”
3) Nevada
Our home state ranks third in this study, which claims: “Nevada residents spent a little more time working per week (38.55 hours) and a little less time on leisure activities (3.8 hours per day) than the two states ahead of them. Although Nevadans sleep a bit more than North Dakotans, their average 7.96 hours per night still comes up short compared to many other states.”
2) North Dakota
Assaf’s article ranks one of the most northernmost states second, explaining: “North Dakota came in second for work-life balance with 38.1 average work hours per week and 3.91 leisure hours per weekday. Apparently North Dakotans prefer not to spend their free time snoozing, however, as they get less sleep per night (7.37 hours) than any other state in the top five.”
1) Vermont
We head to New England to find the top state in Assaf’s article: “Vermont made the top spot on our list of states with the best-work life balance. Vermonters not only spend less time working per week (35.65), but they also have more leisure hours per weekday (4.66) than the residents of other states. More middle-of-the-road in terms of sleep, Vermont residents report getting an average of 8.15 hours per night of shuteye.”
