Launching a company comes with more hidden expenses than most expect, including formation fees, compliance filings, taxes, and other recurring costs that can stack up fast. Despite this, some states make starting a business easier and more affordable than others, and savvy founders can take advantage of those differences.
To help upcoming entrepreneurs, Northwest Registered Agent, a leading provider of business formation services, unveiled its ranking of the most affordable states for startups where founders get the best bang for their buck. The comprehensive guide made its rankings by analyzing startup costs, tax exposure, and regulatory requirements.
Indiana ended up taking spot #10 as forming your business in the Hoosier state will run less than $100 in state fees if you file online, and the corporate income tax rate has stood at 4.9% since July 1, 2021.
The state also provides a comprehensive resource for finding entrepreneurial support, access to capital (an average of $24,502 per small business), state business incentives, and more on the Indiana Economic Development Corporation website.
To read the full list by Northwest Registered Agent, visit: northwestregisteredagent.com/start-a-business/affordable-states.
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