This week’s 50 States series is brought to you by one of the most famous beef, pork, corn and soybean producers in America… none other than Nebraska! Today we’re taking a look at what it means to incorporate in Nebraska.
Nebraska has a population of about 1,860,500 residents and is the 9th least densely populated out of the states. Famous for its intense seasons (for which thunderstorms and tornadoes are quite common), the state also has a prominent agriculture sector. Outside of beef and pork, Nebraska is noted for its freight transport, manufacturing, and insurance sectors as well. And companies like ConAgra, TD Ameritrade, and InfoUSA also call the state home to their headquarters.
As far as starting a business goes, Nebraska is actually a pretty great place to start a business. On the Forbes list of “Best Places to Start a Business” it’s ranked at number six of the 50 states, and on Thumbtack.com, it received a B grade. These scores can likely be attributed to the state’s positive rankings in business costs, economic climate, quality of life, and college attainment. Nebraska also received A+s in regulations, health and safety, employment, tax code, licensing, and training programs.
The 50 States of Incorporation series is back from a quick holiday hiatus and heading on over to The Treasure State to learn how to incorporate in Montana today! Best known for its mountain ranges, 77 of which are a part of the Rocky Mountains, Montana’s biggest employer is agriculture. About two-thirds of the total state land is devoted to farmland including ranches and cereal grain farming.
On Forbes, it ranks as #26 on the best states for business list and while the state stays on middle ground for its economic climate and business costs, it is noted for being new business friendly. The SBA reports that residents within the state launched more new business per capita there than any other state there in the past three years.
Sounds like the place for your start-up? Here are some extra details to keep in mind about how to form an LLC or incorporate in Montana.
Away to the “Land of 10,000 Lakes” we go today to learn about how to incorporate in Minnesota! The 21st most populous state, notable for its fair mix of forests and a thriving metropolitan area within the “Twin Cities” of Minneapolis-Saint Paul, Minnesota is also ranked #8 on the Forbes best states for business list. The state has a strong economic hub as well with the Target Corporation, General Mills, and Medtronic Inc. all calling it home for their company headquarters.
Though Thumbtack.com has ranked the state with a C+ in the areas of tax code, health and safety, employment, labor, and hiring, and licensing, Minnesota has received an A- when it comes to overall state friendliness and ease of starting a business. Much of this may be credited to how Minnesota has a strong economic outlook, ranking #5 on Forbes for quality of life and with the cost of doing business as 1.6% below the national average.
If you’re ready to form an LLC or incorporate in Minnesota, here are a few things you need to know first.
The Great Lakes State, Michigan, is the focus of this week’s 50 states of incorporation. As the ninth most populous state, and with one of the most diverse economies in America, Michigan is a great place to start a business, form an LLC, or incorporate. Many Michigan industries are growing and thriving, and Michigan was one of the top states for job creation in 2012. It is no wonder Michigan is known for being a center of manufacturing!
Michigan’s claim to economic fame lies squarely with the automotive industry. General Motors, Ford, and Chrysler all still call Detroit their home, and though the 2008 global financial crisis hit the automotive center of America hard, they are rebounding. Of course, Michigan has a lot more to offer than cars. Tourism, IT, mining, and agriculture all contribute heavily to Michigan’s economy. In fact, chances are good the Christmas tree soon to be in your living room was grown in Michigan as the state is one of the leading growers, with over 60,000 acres dedicated growing Christmas trees.
It is understandable, then, why so many people choose to found their own small business in the state. And it has never been easier to incorporate in Michigan!
It’s off to the races this week in our 50 states of incorporation series with a look at the Bluegrass State, Kentucky! The 26th most populous state in the United States, Kentucky is noted for its bourbon distilleries, automobile manufacturing, tobacco, and horse racing, the latter of which is a $3 billion dollar industry and noted for its highly successful yearly Kentucky Derby Run for the Roses event. Today we’re taking a closer look at what it means to incorporate in Kentucky.
Home to Toyota’s Motor Engineering & Manufacturing in North America, Kentucky has been ranked #34 on the best states to do business in according to Forbes with the cost of doing business 10.6% below the national average. Thumbtack.com gave Kentucky a B- on small business friendliness with the ease of hiring, labor, employment and zoning all in the general B range. One of the biggest perks for those who incorporate in Kentucky is that the cost of business ranks at #9 of the 50 states and employment consistently on the rise, with more than 14,000 new jobs created in 2012, according to the Kentucky Cabinet for Economic Development.
Illinois has long been one of the strongest economic powerhouses in America. Not only is it home to the city of Chicago, which has been a major transport, shipping, and industrial hub for over a century, but the state is still a manufacturing leader and boasts a strong agricultural industry that continues to thrive off of Illinois’ rich soil.
Illinois is the fifth most populous state, though it is only the 25th largest state in terms of area. Most people in Illinois tend to settle around either Chicago or Springfield; Illinois’ centrally-located capital.
Despite of the many booming industries in Illinois, the state placed 38th in a Forbes list of the ‘Best States to do Business In.’ Unfortunately, a fairly high corporate tax rate combined with hefty state fees and a regulatory government has made it a tad difficult to run a business in Illinois. However, when you factor in population, GDP, and the proximity of major shipping hubs, Illinois is still a great state for starting a business.
This week, we’re Aloha State bound in our 50 States of Incorporation series with a look at the only U.S. state made up entirely of islands, Hawaii! The 8th smallest state that is also not within the Contiguous United States, Hawaii may look like small on the surface but actually boasts a population of over a million permanent residents within the state. With tropical weather and scenery year round, public beaches and active volcanoes, Hawaii also serves as a popular destination spot for surfers, tourists, and members of the U.S. military.
Georgia boasts one of the fastest growing populations, and economies, in America. 15 Fortune 500 companies call Georgia home and, if taken alone, Georgia would have the 28th largest economy in the world. Despite its reputation as the Peach State, Georgia also produces pecans, soy, corn, and poultry. Tourism and culture also make up a major part of the Georgian economy, and a flat corporate income tax of 6% continues to attract new businesses to the state. In fact, according to the Tax Foundation, Georgia’s state and local corporate, income, and sales tax are all low enough that Georgia falls below the national average tax burden. But what does it actually take to form a business in Georgia? And what should you know before incorporating in the Peach State?
Famous for Disney World, being bordered to the west by the Gulf of Mexico, and a collection of particularly colorful news headlines, Florida has never been known as a shy state. However, there has long been some dispute about whether Florida can be considered a business friendly state or not.
Connecticut is a state with a long and storied history. European colonists established what would eventually be Connecticut back in 1636, and towns sprung up on the banks of the Connecticut river, leading it to be called the River Colony. Largely due to a war with the Pequot people that inhabited the area, these river towns created a central government to pool resources and raise a militia. After the Pequot War the population swelled, and Connecticut received its royal charter in 1662.
Both it’s involvement in early American history and its natural beauty ensure Connecticut remains a top tourist destination – state officials estimate that tourism generates around $14 billion for the state economy. Well in line with its revolutionary history, Connecticut is also home to many of America’s major gun manufacturers, including Colt, Stag, and Mossberg.