Which States Have the Lowest Taxes for Small Businesses? | Entrepreneur

A study by BusinessFinancing.co.uk reveals significant variations in corporate tax rates across U.S. states, with Minnesota having the highest at 30.8%. The research modeled a hypothetical tech company making a $100,000 profit and indicated that Illinois, California, Delaware, and Massachusetts also impose substantial taxes. Meanwhile, six states—Nevada, Ohio, South Dakota, Texas, Washington, and Wyoming—charge no corporate tax. On an international scale, the highest small business tax rate was found in Guyana, whereas countries like the Bahamas and the UAE have minimal tax burdens.

Minnesota tops the list for corporate tax payments, with businesses paying about 30.8% on profits of $100,000, closely followed by Illinois at 30.5%.

The report identified Minnesota as having the highest tax rate for small businesses at 30.8%, while six states have no corporate tax at all.

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