The 2014 tax season is here and here at MyCorporation, we’re taking a closer look at taxes in the United States and throughout the world in our latest infographic. Curious about where your tax dollars go? How the state corporate income tax rates vary throughout the U.S. and how they’re compared from all around the world? And what do we plan on doing with our tax refunds this year, anyway? Find out the answers to these questions and more below!
As one of the thirteen original colonies of the United States, the state motto of “virtue, liberty and independence” couldn’t be better suited for any other state than Pennsylvania. Nicknamed the Keystone State, Pennsylvania is ranked at #6 in the nation for its total gross state product and noted for being the home to eight Fortune 500 companies as well as hundreds of public schools, thousands of private schools, and several hundred colleges and universities.
Sitting at #27 on the Forbes best states for business list, entrepreneurs looking to incorporate in Pennsylvania will be happy to find that the quality of life is in the top ten bracket due to the caliber of education available and range of private and public companies headquartered in the state. (Some of which include U.S. Steel, Heinz, and Crayola, the latter of which has acquired the rights to a personal favorite company of mine, Silly Putty.)
AOL, HBO, J.P. Morgan Chase, NBC, Time Warner – to list the sheer number of major corporations that call NYC home to their headquarters would undoubtedly be an entire paragraph (or two) unto itself. Forbes summed it up nicely in a piece ranking the state on the 50 best states for business list, stating that if New York were a country, the state’s $1.2 trillion dollar economy would be the 14th largest in the world after Spain.
Whether you’re working in finance, banking, or fashion, seemingly every type of industry has a place in New York. There are plenty of VC investment opportunities to be found and lots of resources within the state as well. But New York also suffers from high costs in areas concerning taxes, living, and healthcare. Thumbtack.com ranked the state with a D+ in overall friendliness and an F for ease in starting a business last year – ouch.
However, the old adage does ring true that if you can make in New York, you can make it anywhere. If you think you and your business are ready to take on the concrete jungle and incorporate in New York, read on for more information on how to get started!
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.