Comments on: Tax-free havens http://fsbfeatures.blogs.fsb.cnn.com/2008/03/24/tax-free-havens/ FSB Features Wed, 16 Dec 2009 18:30:20 +0000 http://wordpress.com/ hourly 1 By: MJ, Fort Worth, TX http://fsbfeatures.blogs.fsb.cnn.com/2008/03/24/tax-free-havens/#comment-14059 MJ, Fort Worth, TX Wed, 01 Jul 2009 16:11:15 +0000 http://fsbfeatures.blogs.fsb.cnn.com/2008/03/24/tax-free-havens/#comment-14059 I believe that no matter where you start your company, you will be required to open a local company in your residency state. Which will lead you to double taxation. So, is it better to open only in your state, right? I believe that no matter where you start your company, you will be required to open a local company in your residency state. Which will lead you to double taxation. So, is it better to open only in your state, right?

]]> By: Jason O Palmdale, CA http://fsbfeatures.blogs.fsb.cnn.com/2008/03/24/tax-free-havens/#comment-12725 Jason O Palmdale, CA Tue, 06 Jan 2009 21:16:26 +0000 http://fsbfeatures.blogs.fsb.cnn.com/2008/03/24/tax-free-havens/#comment-12725 I have alway thought Nevada would be a great area to start a bussiness since the two major cities Reno and Vegas are growing like crazy. I really considering starting my bussiness there after I finish college since The Climate is great around vegas and youll be right nxt door to the biggest market in the country, California, with out paying the high taxes I have alway thought Nevada would be a great area to start a bussiness since the two major cities Reno and Vegas are growing like crazy. I really considering starting my bussiness there after I finish college since The Climate is great around vegas and youll be right nxt door to the biggest market in the country, California, with out paying the high taxes

]]> By: Stan, Los Angeles, CA http://fsbfeatures.blogs.fsb.cnn.com/2008/03/24/tax-free-havens/#comment-12033 Stan, Los Angeles, CA Tue, 28 Oct 2008 08:17:21 +0000 http://fsbfeatures.blogs.fsb.cnn.com/2008/03/24/tax-free-havens/#comment-12033 Those who are adventurous might want to take a look at U.S. Virgin Islands (and possibly other U.S. territories). For businesses that are actually run on the islands and hire 10 people, the FEDERAL TAX can be (effectively) reduced by about 90% for the corporation and its major shareholders that live on the islands. Those who are adventurous might want to take a look at U.S. Virgin Islands (and possibly other U.S. territories). For businesses that are actually run on the islands and hire 10 people, the FEDERAL TAX can be (effectively) reduced by about 90% for the corporation and its major shareholders that live on the islands.

]]> By: Jose L. Gonzalez, Brookings, SD http://fsbfeatures.blogs.fsb.cnn.com/2008/03/24/tax-free-havens/#comment-9801 Jose L. Gonzalez, Brookings, SD Fri, 25 Jul 2008 22:00:34 +0000 http://fsbfeatures.blogs.fsb.cnn.com/2008/03/24/tax-free-havens/#comment-9801 The article miss one more state with no state income tax,.. SOUTH DAKOTA. Please do your homework. Or is that SD is no US state anymore? With cheap land to build, it is actually cheap to start a company. The article miss one more state with no state income tax,.. SOUTH DAKOTA.

Please do your homework.

Or is that SD is no US state anymore?
With cheap land to build, it is actually cheap to start a company.

]]> By: janet carney scottsdale AZ http://fsbfeatures.blogs.fsb.cnn.com/2008/03/24/tax-free-havens/#comment-9348 janet carney scottsdale AZ Fri, 11 Jul 2008 20:52:10 +0000 http://fsbfeatures.blogs.fsb.cnn.com/2008/03/24/tax-free-havens/#comment-9348 we've been looking for a business to run and "retire"with we will have some money coming off selling present business , and are too looking at Las Vegas Area as climate and area attractions are good - We love Tahoe - but don't like Cold months so around Henderson or Spring - Red Rocks - but would like to see Economy Rally - housing market reasonable in Vegas areas defintely tempted by LOW-AND NO-"TAX="STRUCTURES we've been looking for a business to run and "retire"with we will have some money coming off selling present business , and are too looking at Las Vegas Area as climate and area attractions are good – We love Tahoe – but don't like Cold months so around Henderson or Spring – Red Rocks – but would like to see Economy Rally – housing market reasonable in Vegas areas defintely tempted by LOW-AND NO-"TAX="STRUCTURES

]]> By: Davrick - Kirkland, WA. http://fsbfeatures.blogs.fsb.cnn.com/2008/03/24/tax-free-havens/#comment-9269 Davrick - Kirkland, WA. Mon, 07 Jul 2008 22:04:03 +0000 http://fsbfeatures.blogs.fsb.cnn.com/2008/03/24/tax-free-havens/#comment-9269 I live in Washington, Washington was voted one of the most expensive cities in the U.S. to live. Not very friendly for business taxes. Boeing moved their corporate offices to Chicago for that same reason. We are moving our businesses, and family to Las Vegas NV. I live in Washington, Washington was voted one of the most expensive cities in the U.S. to live. Not very friendly for business taxes. Boeing moved their corporate offices to Chicago for that same reason. We are moving our businesses, and family to Las Vegas NV.

]]> By: Bob, Phoenix AZ http://fsbfeatures.blogs.fsb.cnn.com/2008/03/24/tax-free-havens/#comment-9241 Bob, Phoenix AZ Sat, 05 Jul 2008 15:53:50 +0000 http://fsbfeatures.blogs.fsb.cnn.com/2008/03/24/tax-free-havens/#comment-9241 Someone hasn't done their homework on Tennessee. While the state may have the breaks, the counties and locals have horrendous tax rates, especially Shelby County (Memphis). In the couple years I owned apartments there, the taxes have skyrocketed year over year and the appeal system is in denial always. The Commercial Appeal newspaper always ran stories on how many of the local government officials shirked their responsibilities paying utilities and taxes too. Bottom line, Tennessee not a tax haven for small business when dealing with the county assessors and local city taxes. Someone hasn't done their homework on Tennessee. While the state may have the breaks, the counties and locals have horrendous tax rates, especially Shelby County (Memphis). In the couple years I owned apartments there, the taxes have skyrocketed year over year and the appeal system is in denial always. The Commercial Appeal newspaper always ran stories on how many of the local government officials shirked their responsibilities paying utilities and taxes too. Bottom line, Tennessee not a tax haven for small business when dealing with the county assessors and local city taxes.

]]> By: Debbie White, Juneau, AK http://fsbfeatures.blogs.fsb.cnn.com/2008/03/24/tax-free-havens/#comment-9037 Debbie White, Juneau, AK Sat, 28 Jun 2008 15:22:09 +0000 http://fsbfeatures.blogs.fsb.cnn.com/2008/03/24/tax-free-havens/#comment-9037 Alaska doesn't have a personal income tax either. Corporate taxes are mild, unless you are a huge corporation. Air and water are clean, recreational opportunities are everywhere. Too bad the reporters didn't fully explore the possibilities! Alaska doesn't have a personal income tax either. Corporate taxes are mild, unless you are a huge corporation. Air and water are clean, recreational opportunities are everywhere. Too bad the reporters didn't fully explore the possibilities!

]]> By: Mary Cerney, Pierre, SD http://fsbfeatures.blogs.fsb.cnn.com/2008/03/24/tax-free-havens/#comment-8076 Mary Cerney, Pierre, SD Thu, 22 May 2008 16:05:15 +0000 http://fsbfeatures.blogs.fsb.cnn.com/2008/03/24/tax-free-havens/#comment-8076 I am writing in regard to a recent article in March titled "7 tax-free havens". The article begins by stating: "Starting a company in one of these business-friendly locations can save a proprietor big bucks: These seven states have no individual income tax, and some have no corporate income tax." The article then proceeds to give short profiles on Wyoming, Nevada, Florida, Texas, Washington, New Hampshire and Tennessee. A major omission to this list is the state of South Dakota. South Dakota has never imposed a corporate or a personal income tax in the state's history. South Dakota is actually the only state in the nation with no state income taxes, no personal property or business inventory taxes, and no inheritance tax. South Dakota does have a bank franchise tax, but that is limited to that industry only. I encourage you to take a look at what South Dakota does have to offer in addition to one of, if not the best business climate in America. Thank you. I am writing in regard to a recent article in March titled "7 tax-free havens". The article begins by stating: "Starting a company in one of these business-friendly locations can save a proprietor big bucks: These seven states have no individual income tax, and some have no corporate income tax." The article then proceeds to give short profiles on Wyoming, Nevada, Florida, Texas, Washington, New Hampshire and Tennessee.

A major omission to this list is the state of South Dakota. South Dakota has never imposed a corporate or a personal income tax in the state's history.

South Dakota is actually the only state in the nation with no state income taxes, no personal property or business inventory taxes, and no inheritance tax.

South Dakota does have a bank franchise tax, but that is limited to that industry only.

I encourage you to take a look at what South Dakota does have to offer in addition to one of, if not the best business climate in America. Thank you.

]]> By: Scott Phillips, Queen Creek, AZ http://fsbfeatures.blogs.fsb.cnn.com/2008/03/24/tax-free-havens/#comment-7470 Scott Phillips, Queen Creek, AZ Tue, 29 Apr 2008 00:25:39 +0000 http://fsbfeatures.blogs.fsb.cnn.com/2008/03/24/tax-free-havens/#comment-7470 My wife runs a small Graphic Design business out of our home in Arizona. We are going to be moving to Washington. What can I expect to pay in taxes in Washington vs. Arizona? My wife runs a small Graphic Design business out of our home in Arizona. We are going to be moving to Washington. What can I expect to pay in taxes in Washington vs. Arizona?

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