Tax Advantages

25 Miles West of San Antonio, Texas

634 acres for Sale- Corporate Park, Campus, Large scale Communiuty Development Integration

$17M

FOR SALE

riggers.jpg We provide rigging service for large equipment

Always be on the lookout for ways to maximize profitability, streamline operations, and create a sustainable future for your company.

One option that has gained traction in recent years is relocating to states with lower business taxes. While this can present exciting opportunities, there are several key considerations to weigh before making the leap. Here’s what you need to know about moving to low business tax states.

The Financial Incentive The most obvious reason to consider relocating is the tax savings. States like Texas, Florida, and Nevada offer zero or low corporate income tax rates. This can translate to significant savings, allowing you to reinvest in your business, provide better employee compensation, or expand operations. However, it is essential to conduct a thorough analysis of potential tax obligations, including sales tax, property tax, and any industry-specific taxes that might apply.

Beyond Taxes: Cost of Living and Quality of Life While low tax rates are enticing, it’s vital to look at the bigger picture. The cost of living in the new state can impact your overall business expenses and employee satisfaction. For example, if you move to a low-tax state but the cost of housing and utilities is significantly higher, you may not realize the savings you expect. Moreover, consider the quality of life for you and your employees. Access to amenities, local culture, education, and healthcare can make or break a transition.

Call or email us. We're ready to help. Ph 508 264 7173 or sales@corpvelociy.com

SOLD !

North Carolina

North Carolina’s tax landscape encompasses a diverse range of levies, including corporate income tax, franchise tax, and sales tax. Understanding the intricacies of the state’s tax system is crucial for businesses and individuals alike. The corporate income tax rate, currently at 2.5%, is set to undergo phased reductions, ultimately reaching 0% by 2030. Alongside this, corporations operating in the state are subject to a minimum Franchise Tax of $200. Compliance with tax return deadlines, nexus considerations for income tax, and the availability of various tax credits are essential aspects for businesses navigating North Carolina’s tax environment.

NC.jpg The Golden Triangle for Business in North CArolina

Tennessee

Florida

Nashville skyline and a lovely place for business.

Business tax rate: 6.5% for both corporations and limited liability entities.
Sales tax rate: 7.00%.
Franchise tax: Applied based on the higher value between net worth and the book value of real and tangible personal property in the state.

Florida corporate income/franchise tax is computed using federal taxable income, modified by certain Florida adjustments, additions, and subtractions, to determine adjusted federal income.

A corporation doing business outside Florida may apportion its total income. Adjusted federal income is usually apportioned to Florida using a three-factor formula. The formula is a weighted average, designating 25% each to factors for property and payroll, and 50% to sales.
You should add non-business income allocated to Florida to the Florida portion of adjusted federal income.
You should then subtract an exemption ($50,000 as of December 31, 2015) to arrive at Florida net income.
Finally, you should compute tax by multiplying Florida net income by the appropriate tax rate based on the following:

Taxable Year Beginning Prior to 1/1/20191/1/2019 - 12/31/20201/1/2021 - 12/31/2021On or After 1/1/2022

Tax Rate5.5%4.458%3.535%5.5%