Two of the most important things for every business is lowering expenses and attracting employees. These two things will allow your business to thrive and allow for more growth.
One of the best ways to lower your expenses and attract employees is relocating to a new state.
Many talented employees are attracted to states that have lots of things to do and warm weather. Each state also has its own tax laws, with some states placing a lower tax burden on your business.
As professional long distance movers, we have noticed the trends of the following states being the best for business relocations:
- North Carolina
Moving Your Business to Lower Your Income Taxes
Lowering your tax burden is a great way to free up more funds for your business each year. With lower corporate tax and personal income tax, you can pay a fraction of what you would pay in high-tax states like California or New York. According to TaxFoundation, the states mentioned in our list have some of the lowest tax rates in the country.
Among all 50 states corporate income and personal income tax burden, the three states recommended in this article rank:
- North Carolina: Ranking 4th for corporate tax income, North Carolina has a corporate income tax rate of 2.50% and ranks 16th for personal income with a tax rate of 5.25%.
- Florida: Ranking 6th for corporate tax income, Florida has a corporate income tax rate of 4.458% and ranks 1st for personal income with no state income tax.
- Nevada: Ranking 25th for corporate income tax, Nevada does not have a corporate income tax but does have a gross receipts tax. However, Nevada ranks 5th for personal income, with no state individual income tax.
Moving Your Business to Retain and Attract Employees
Along with lower taxes, picking a state with great weather and recreation is a great way to attract and keep more talent. North Carolina, Florida, and Nevada all have many outdoor things and attractions to do during your downtime.
Florida, or commonly known as the sunshine state, has beautiful weather throughout the year with lots of outdoor activities and attractions for families. It is also great for attracting new talent, with top universities spread throughout the state.
While it is most commonly known for Las Vegas, Nevada is also known for its natural beauty. Lake Tahoe and Red Rock Canyon National Park will amaze you with their fascinating landscapes.
Lastly, North Carolina is home to several up-and-coming cities such as Charlotte and Raleigh. With a low cost of living and many things to do, these cities are growing rapidly with business opportunities.
Learn More About Our Professional Business Moving Services
As professional commercial movers, Coleman Worldwide Moving has the experience to move your business to a state you can thrive in. Our team of talented movers will assist you through all phases of the move, from managing the move to storing your items in a secure warehouse until your arrival.
Along with moving your business, we also offer employee relocation services to help your employees move to their new state. Our team of experts will coordinate with the Human Resources Departments of large companies to help your employees move or work individually with them. Whatever the situation, our team will pack, organize, and store their belongings.
To learn more about our business moving services and receive a free moving quote, contact us today! Call to speak to one of our experts or use the online contact form to receive additional information for your move.