Today on MyMoneyLife with Chuck Bentley

Are all states equal when it comes to starting a business?  Well, not according to the Tax Foundation. They’re a nonpartisan research group that’s been studying tax issues since 1937.

The group just released its latest survey of the best and worst states to launch a new business based on tax policy.  The study looks at taxes on corporate and individual income, sales, property and unemployment insurance.

So, according to the Tax Foundation, here are the 3 best states for starting a business, counting down backwards:

1. Alaska.  No state sales tax, no property tax, and low unemployment insurance taxes.



2. Wyoming.  No corporate income or individual income tax, and only a 4 percent state sales tax.



3. South Dakota.  No corporate or individual income tax, only a 4 percent sales tax, and very low unemployment insurance rates.

And the worst states for starting a business?

1. California.  It has some of the highest taxes in almost every category.



2. New York.  They just raised the top personal income tax bracket to almost 9 percent and that’s a 30 percent increase.



3. New Jersey.  The Garden State has the highest property taxes in the country and they also have a “Millionaire’s Tax” that actually affects people making far less than that.

Well, regardless of where you live, it’s never a bad time to start a business.  For more advice on starting a business, I hope you’ll visit us at Crown.org.

Starting a Business

Starting and managing a business takes motivation, desire, talent, research, and planning.

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How to be a Success

To be a spiritual success, a Christian must be willing to relinquish all rights and accept God’s plan. God’s plan will always provide enough.

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Should I Start a Businss?

Starting a business can be a complex undertaking, requiring much prayer and consideration, the right motive, a workable plan, and adequate capital.

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Basic Business Minimums

.Christians need to give their businesses to God, live by His principles, and accept the fact that they are managers of His business.

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Other Resources:

• ABCs of Money Package
• Career Direct
• God's Principles for Operating a Business
• Business By the Book
• Crown Mvelopes