As California and Texas both move to balance their respective budget deficits according to the philosophies of their dominant parties, there are a few facts that experts on both sides are hard-pressed to answer.
For example, credit rating agency Standard & Poor's reported last week that Texas will likely experience a faster economic recovery than the rest of the nation. The Lone Star State also boasts a much lower unemployment rate than California and has ranked highly on a number of surveys evaluating states' relative conditions for taxes and business suitability.
The office of Texas Governor Rick Perry has even been busy sending letters to business in the Golden State, urging them to relocate and form an LLC in Texas.
"As the state of California continues to support legislation that causes undue burden and taxation on companies doing business in the Los Angeles area, I invite you to consider your future in America's new land of opportunity: the state of Texas," Perry wrote in a recent letter to small businesses in Vernon, California, according to the Los Angeles Times.
While California remains the largest state economy in the country, with a GDP that places it among the top eight in the world, the state faces a number of challenges in retaining its current dominance.
Tags : ca, incorporation information, incorporation news, small business management, tx
Posted: May 10th, 2011