Multiple cities in Florida made the top 10 list.
TAMPA, Fla. — Tampa was ranked as the second-best place to start a business in a new report.
The personal finance company used three key dimensions to determine its rankings: business environment, access to resources and business costs.
WalletHub, a personal finance company, published the study citing a low corporate tax rate and a high number of investors per capita that gives businesses more resources to survive the difficult initial years in Tampa.
What does this mean?
In Tampa, the low corporate tax rate allows businesses to keep more of their revenue. The rate depends on when the business was started but it is 5.5% for taxable years beginning on or after January 1, 2022, according to the Florida Department of Revenue.
Compared to other states in the country, that’s low. Minnesota has the highest with a rate of 9.8% one of the highest rates at 9.8%, according to the Tax Foundation.
Many companies are not subjected …