Best And Worst States For Small Business
It's understood that "what happens in Vegas, stays in Vegas," but small-business owners will be happy to know the state also doesn't want them leaving.
Nevada does not tax personal income, individual corporate gains, corporate income or corporate capital gains. It also has no death taxes and low workers' compensation costs, according to the council report.
On the downside, Nevada does have high consumption-based taxes, high unemployment taxes and a high state minimum wage.It is among states hardest-hit by the housing crisis and unemployment -- topping 14.5%, according to a Friday press release from the governor's office. Bringing in jobs will be a high priority for the state's new governor, Republican Brian Sandoval. "We cannot burden struggling businesses with tax increases ... We must allow sunsetting taxes to expire at the end of June and provide businesses the environment in which to begin hiring again," he said Friday, referring to a tax package passed in 2009 that included temporary reductions to payroll taxes for small businesses, among other measures. The package is set to expire June 30. He is expected to release his budget today.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV