America is a country of new ideas and unique opportunities, so those who come there can benefit from convenient services.
For example, modern travelers in the USA don’t have to use public transport for sightseeing – they just need to rent a car. Enterprise at DCA airport in Washington, or Avis at Los Angeles Airport – each traveler can find the best vehicle anywhere.
It’s not a secret that many people visit the United States not only for tourism purposes, but also for business. The country offers a plenty of opportunities, but you need to be able to correctly implement these opportunities in the right place. Thus, we have compiled the list of 5 U.S. cities where it’s most profitable to start a business…
Provo, Utah
Provo is home to the Novell operations center, many technology companies, and one of the country’s largest private universities – Brigham Young University. The city is very intelligent and powerful in terms of technology business – about 9.8% of employees work in the field of high technology.
Provo is populated mainly by Mormons – pious and benevolent people, even by American standards.
Property Rental
Apartment prices start at a ridiculous $300. For $1,000 you can rent a nice two-bedroom house in a good area.
Taxes
Utah is one of the few states in which the tax on individuals and corporations is not dependent on income and is just 5%. There are only 7 such states – in other states there’s either no tax at all, or it’s progressive. This makes Utah very profitable for companies and people with high incomes. Sales tax is 5.95%
Raleigh, North Carolina
Recently, Raleigh is generally one of the fastest growing cities in the USA with a very good economy and demography. More than 90% of students graduate from high school, about 41% go to colleges, and every seventh – receives higher education. There are several fairly prestigious universities, graduates of which work in the largest companies in the United States of America and sometimes even establish these companies.
In Raleigh is the headquarters of Progress Energy, which employs 11 thousand people. Also, there are offices of Microsoft, Cisco, Intel, Lenovo, and about a dozen large companies that everyone knows about. If you decide to launch a high-tech startup, this is one of the best places in the world for its development and sale. It’s easy to find like-minded people to implement any project.
Property Rental
One-bedroom apartments will cost about $650-800, which is an attractive price because of the rather high salaries in the city.
Taxes
North Carolina state taxes are not the lowest. The state has a progressive three-stage system, when the tax rate is calculated on the basis of annual income:
- income up to $12,750 – 6%;
- income from $12,750 to $60,000 – 7%;
- income of more than $60,000 – 7.75%.
The state corporate tax rate is 6.9%, while sales tax – 4.75%.
Fort Collins, Colorado
The University of Colorado is located in Fort Collins, and this fact can attract the attention of anyone who plans to do a tech business there. Many large technology companies open offices in Fort Collins to be able to use the resources and research laboratories of the university. As elsewhere in Colorado, there’s a good investment climate.
Property Rental
The cost of renting one-room apartments in Fort Collins is from $500 to $1,200, while two-room – from $800.
Taxes
Colorado attracts with low taxes. The single income tax rate for individuals and businesses is 4.63%. Sales tax – 2.9%.
Des Moines, Iowa
Des Moines is the center of the country’s insurance business: the head offices of the largest insurance companies are located there. In addition, large agricultural companies and manufacturers of special equipment work in this place. It’s difficult to understand what is attractive for starting a business, but many note the relative simplicity of business procedures and the large number of qualified specialists.
Property Rental
Housing prices in Des Moines are very attractive. One-bedroom apartments can even be found for $300, but $500-600 is a more realistic price.
Taxes
Iowa has high taxes. The state tax on individuals is progressive – the tax scale has 9 levels. The maximum tax is 8.98%. Corporate income tax is also progressive, but the scale is four-step. The maximum rate is 12%. Sales tax – 6%.
Denver, Colorado
Denver is one of the largest cities in the region. The city has the 18th largest economy in the USA. This is a big industrial shopping center, which is located at the intersection of the major trade routes.
Here’re the central offices of many mining, processing and trading companies – a total of more than a hundred ones. Denver has great prospects for creating a small and medium-sized B2B business – of course, if you have something to offer customers.
Property Rental
As any major city, Denver features a large variation of lodging prices. Prices for single-bed apartments start at $550, and for apartments with two bedrooms you’ll have to pay from $700. The more real price of rental housing is between $700 and $1,100.
Taxes
The single income tax rate for individuals and businesses is 4.63%. Sales tax – 2.9%.
