These are the 9 least expensive states to start a business—none of them are in the northeast

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Location can play a major role in projecting your new startup's expenses, from labor costs to electricity bills. A new ranking could help you parse your options.

Nevada is one of only six states without any corporate income tax, though it does collect a gross receipts tax offrom businesses with at least $4 million in annual revenue. The state also ranks just outside the top 10 in labor force participation rate and average worker salaries.

It also boasted the country's fourth-best business survival rate in 2021, with nearly twice as many new startups formed than failed, according to the most recent data available from the U.S. Bureau of Labor Statistics. Colorado and Arkansas came in just behind Nevada. Both states have some of the lowest corporate tax rates levied on businesses, with Arkansas imposing a rate of 3.3% and Colorado at 4.4%, the ranking notes.

Small business loans were also widely available in those two states in 2020, the most recent year with complete Small Business Administration data. Arkansas small businesses received nearly $43 million in loans per 100,000 residents that year, the sixth-highest of any state. Colorado was eighth at $41.2 million per 100,000 residents.

To calculate its rankings, SimplifyLLC used data from the U.S. Census Bureau, the Bureau of Labor Statistics and the Tax Foundation to rate each of the country's 50 states in nine categories:

 

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