Initiatives that benefit an Iowa small business include no personal property tax. There is also no sales and use tax on machinery and equipment purchases. This state also offers a refundable credit for increasing research activities. It is up to 6.5% of qualifying expenditures. Furthermore, Iowa offers reduced or no corporate tax. Also, they have a 50% deductibility for federal taxes from Iowa corporate income. Iowa is one of only five states which offer this deductible.
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If your search with D&B doesn’t show you have a D-U-N-S number, you’ll need one. This is a nine-digit number issued by Dun & Bradstreet. It’s assigned to each business location in the D&B database. Each business has a unique, separate, and distinct operation for the purpose. Every business must first have a D-U-N-S number before D&B will assign a PAYDEX business credit score.
Business Insider named Wyoming as the top state in the entire nation to start a new business in, per an article published in 2016.
Why? The sales tax rate is low. Also, they do not even have any corporate income tax, individual income tax, or gross receipts tax. There is also a thriving startup scene. Wyoming is fourth in the nation for startup companies.
Maine right now is in first place for high speed broadband intensity. And it is seventh place for high speed broadband availability. Newly installed 1,100 miles of fiber optic cable should enhance the state’s health care system. It should also positively impact academia and small business. The most profitable business in Maine might turn out to be in the tech industry.
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