GOBankingRates works with many financial advertisers to showcase their products and services to our audiences.
These brands compensate us to advertise their products in ads across our site.
This compensation may impact how and where products appear on this site.
Commitment to Our Readers
GOBankingRates' editorial team is committed to bringing you unbiased reviews and information.
you might read more about oureditorial guidelinesand our products and servicesreview methodology.
Where you start your business can have abig impact on your chances for success.
This anonymity protects you from unwanted attention, creditors and personal attacks from online communities.
Because only individuals pay their companys taxes, they arent taxed twice.
California
When it comes to the worst states for starting a business, you cant overlook California.
Between 2019 and mid-2024, over 200 businesses relocated from California to other states.
This is more than double the number for New York, which has the second-most relocations.
The number of regulations California has continued to impose is a big reason for this.
The California Code of Regulations has over 400,000 restrictions as of 2023.
Illinois
Illinois is an expensive state tostart a businessin because of its high corporate tax rate.
The lack of capital can limit companies in hiring new employees or raising salaries.
One reason for this may stem from how expensive it is to pay employees.
The statewide minimum wage in Washington is $16.28 per hour, which is the highest in the nation.
More From GOBankingRates
Share This Article:
