Entrepreneurs looking to launch an LLC in California might want to consider a new survey by the Rose Institute of State and Local Government that assesses the costs of doing business in more than 400 U.S. cities. According to the report, one-third of the forty most expensive cities in which to do business in the United States are in California.
Included among those cities are Los Angeles, Berkeley, Beverly Hills, San Francisco, Santa Monica, Oakland and San Bernardino, among others.
“California cities continue to struggle with a sluggish economy and shaky finances, although many local governments have tried to cut costs and boost local business,” the survey says. “As California raises its taxes, it continues to lose businesses to nearby Arizona, Colorado and Nevada.”
The report also cites California’s high corporate income tax and sales tax rates (8.84 and 8.25 percent, respectively) as contributing to its cities’ rankings. California’s bordering states have much lower rates in each of these categories.
The annual Rose Report utilizes such data as taxes, incorporation fees and business incentives to compile a five-point rating system by degree of overall expense. It is frequently cited as a strong indicator of financial growth, prosperity and potential.
Tags : ca, incorporation news, taxes
Posted: Oct 4th, 2010