Taking into account the peculiarity of American states, in terms of differences in local legislation, we can highlight seven states with the most attractive conditions for starting a business.
These are states such as: Florida, Nevada, Alaska, South Dakota, Wyoming, Washington and Texas. Also, a strong structure of corporate law can be noted in the state of Delaware.
But today we will talk about Florida. This state ranks fourth in population after New York, which is beginning to lose its wealthy taxpayers who cannot withstand excessive tax pressure. If, for example, in New York individuals pay 25% of their annual income in tax, then in Florida this figure is 14%. Such a difference in tax costs is achieved due to the introduction of a new law allowing tax deductions of up to 10,000 USD, including real estate tax.
For example, it is beneficial for a foreigner to register a company or LLC in the state of Florida, USA. Considering the fact that many countries are starting to collect tax information and intend to exchange this information automatically in the near future, it is unlikely that any country will be able to obtain such information from Florida. Since this is the USA, you know that the Americans, according to the FATF recommendations, require all countries to report information about American accounts located in banks around the world. However, they do not promise such reciprocity to anyone.
Significant business advantages and tax policy in Florida have led to internal migration of Americans, as a result of which the infrastructure began to expand, and the state increased the volume of revenue in the local budget.