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Most expensive states to start a business

  • Most expensive states to start a business
    1/ Peter Zoon // Flickr

    Most expensive states to start a business

    One of the most stressful things a person can do is start a new business, in part because there are so many moving parts and costs that are hard to predict. While equity distribution, staff size, product pricing and investment can all drive prospective business owners up a wall, one of the most important choices to make is where to set up shop.

    While averages are heavily variant across different fields, studies show the cumulative costs of starting a business typically average about $30,000. Around 543,000 new businesses are opened every month, and if that trend is to continue, hundreds of thousands of future business owners will have to make the pivotal decision of where to plant their flags. 

    Stacker referenced data from WalletHub in order to rank the best states for beginning a new business. The rankings are aggregated from the states’ corporate taxes, their respective costs of living and the affordability of office space (listed by average price per square foot).

    Read on to see where you may want to start your next business.

    RELATED: Click here to see successful entrepreneurs who built companies after hitting 40.

  • #50. Oklahoma
    2/ Greater Oklahoma City Chamber and Oklahoma City Convention and Visitors Bureau // Wikimedia Commons

    #50. Oklahoma

    Office space affordability: $14.57 per SF (rank: #14/50)
    Corporate taxes rank: #9/50
    Cost of living rank: #3/50


     

  • #49. Mississippi
    3/ NatalieMaynor // Flickr

    #49. Mississippi

    Office space affordability: $14.06 per SF (rank: #12/50)
    Corporate taxes rank: #11/50
    Cost of living rank: #1/50


     

  • #48. Michigan
    4/ Ken Lund/ Wikimedia Commons

    #48. Michigan

    Office space affordability: $15.07 per SF (rank: #19/50)
    Corporate taxes rank: #8/50
    Cost of living rank: #4/50


     

  • #47. West Virginia
    5/ Tim Kiser // Wikicommons

    #47. West Virginia

    Office space affordability: $15.54 per SF (rank: #23/50)
    Corporate taxes rank: #17/50
    Cost of living rank: #23/50


     

  • #46. Kentucky
    6/ OPMaster // Wikimedia Commons

    #46. Kentucky

    Office space affordability: $14.61 per SF (rank: #15/50)
    Corporate taxes rank: #27/50
    Cost of living rank: #16/50


     

  • #45. South Dakota
    7/ Jon Platek // Wikimedia Commons

    #45. South Dakota

    Office space affordability: $12.76 per SF (rank: #3/50)
    Corporate taxes rank: #1/50
    Cost of living rank: #27/50


     

  • #44. Idaho
    8/ Boise Metro Chamber of Commerce // Flickr

    #44. Idaho

    Office space affordability: $13.61 per SF (rank: #9/50)
    Corporate taxes rank: #25/50
    Cost of living rank: #13/50


     

  • #43. Montana
    9/ Pruhter // Wikimedia Commons

    #43. Montana

    Office space affordability: $13.18 per SF (rank: #4/50)
    Corporate taxes rank: #12/50
    Cost of living rank: #31/50


     

  • #42. Alabama
    10/ IIP Photo Archive // Flickr

    #42. Alabama

    Office space affordability: $14.77 per SF (rank: #18/50)
    Corporate taxes rank: #22/50
    Cost of living rank: #8/50


     

  • #41. Nebraska
    11/ Pat Hawks // Flickr

    #41. Nebraska

    Office space affordability: $13.83 per SF (rank: #10/50)
    Corporate taxes rank: #28/50
    Cost of living rank: #15/50


     

  • #40. Arkansas
    12/ Bruce W. Stracener // Wikimedia Commons

    #40. Arkansas

    Office space affordability: $15.41 per SF (rank: #22/50)
    Corporate taxes rank: #39/50
    Cost of living rank: #2/50


     

  • #39. Tennessee
    13/ Kaldari // Wikimedia Commons

    #39. Tennessee

    Office space affordability: $16.13 per SF (rank: #28/50)
    Corporate taxes rank: #21/50
    Cost of living rank: #5/50


     

  • #38. South Carolina
    14/ Tim // Wikicommons

    #38. South Carolina

    Office space affordability: $15.37 per SF (rank: #21/50)
    Corporate taxes rank: #15/50
    Cost of living rank: #27/50


     

  • #37. North Carolina
    15/ James Willamor // Flickr

    #37. North Carolina

    Office space affordability: $17.56 per SF (rank: #35/50)
    Corporate taxes rank: #3/50
    Cost of living rank: #18/50


     

  • #36. Louisiana
    16/ Shreveport-Bossier Convention and Tourist Bureau // Flickr

    #36. Louisiana

    Office space affordability: $15.58 per SF (rank: #24/50)
    Corporate taxes rank: #40/50
    Cost of living rank: #17/50


     

  • #35. Texas
    17/ IIP Photo Archive // Flickr

    #35. Texas

    Office space affordability: $14.06 per SF (rank: #12/50)
    Corporate taxes rank: #49/50
    Cost of living rank: #11/50


     

  • #34. Georgia
    18/ Reinhard Kraasch // Wikimedia Commons

    #34. Georgia

    Office space affordability: $15.75 per SF (rank: #25/50)
    Corporate taxes rank: #10/50
    Cost of living rank: #9/50


     

  • #33. Indiana
    19/ Jasssmit // Wikimedia Commons

    #33. Indiana

    Office space affordability: $14.03 per SF (rank: #11/50)
    Corporate taxes rank: #23/50
    Cost of living rank: #10/50


     

  • #32. New Mexico
    20/ Ken Lund // Flickr

    #32. New Mexico

    Office space affordability: $15.29 per SF (rank: #20/50)
    Corporate taxes rank: #24/50
    Cost of living rank: #19/50


     

  • #31. Missouri
    21/ Sam valadi // Flickr

    #31. Missouri

    Office space affordability: $16.79 per SF (rank: #31/50)
    Corporate taxes rank: #5/50
    Cost of living rank: #6/50


     

  • #30. Kansas
    22/ Sean Pavone // Shutterstock

    #30. Kansas

    Office space affordability: $14.64 per SF (rank: #16/50)
    Corporate taxes rank: #38/50
    Cost of living rank: #7/50


     

  • #29. Maine
    23/ Ken Lund // Flickr

    #29. Maine

    Office space affordability: $12.64 per SF (rank: #2/50)
    Corporate taxes rank: #41/50
    Cost of living rank: #38/50


     

  • #28. Arizona
    24/ Alan Stark // Flickr

    #28. Arizona

    Office space affordability: $17.96 per SF (rank: #38/50)
    Corporate taxes rank: #13/50
    Cost of living rank: #20/50


     

  • #27. Ohio
    25/ Robbt // Flickr

    #27. Ohio

    Office space affordability: $13.37 per SF (rank: #6/50)
    Corporate taxes rank: #47/50
    Cost of living rank: #14/50


     

  • #26. Florida
    26/ UltraView Admin // Flickr

    #26. Florida

    Office space affordability: $17.63 per SF (rank: #36/50)
    Corporate taxes rank: #19/50
    Cost of living rank: #26/50


     

  • #25. Wyoming
    27/ Michel Rathwell // Flickr

    #25. Wyoming

    Office space affordability: $16.87 per SF (rank: #32/50)
    Corporate taxes rank: #1/50
    Cost of living rank: #20/50


     

  • #24. Vermont
    28/ Bob P. B. // Flickr

    #24. Vermont

    Office space affordability: $14.75 per SF (rank: #17/50)
    Corporate taxes rank: #37/50
    Cost of living rank: #40/50


     

  • #23. Wisconsin
    29/ Miwdke // Wikimedia Commons

    #23. Wisconsin

    Office space affordability: $13.52 per SF (rank: #7/50)
    Corporate taxes rank: #29/50
    Cost of living rank: #24/50


     

  • #22. Nevada
    30/ IIP Photo Archive // Flickr

    #22. Nevada

    Office space affordability: $15.75 per SF (rank: #25/50)
    Corporate taxes rank: #33/50
    Cost of living rank: #36/50


     

  • #21. Iowa
    31/ JoshWest.com // Flickr

    #21. Iowa

    Office space affordability: $12.08 per SF (rank: #1/50)
    Corporate taxes rank: #48/50
    Cost of living rank: #12/50


     

  • #20. North Dakota
    32/ Ron Reiring // Wikimedia Commons

    #20. North Dakota

    Office space affordability: Not available per SF (rank: #N/A/50)
    Corporate taxes rank: #16/50
    Cost of living rank: #29/50


     

  • #19. Colorado
    33/ Larry Johnson // Flickr

    #19. Colorado

    Office space affordability: $17.43 per SF (rank: #34/50)
    Corporate taxes rank: #18/50
    Cost of living rank: #34/50


     

  • #18. Utah
    34/ Garrett // Wikimedia Commons

    #18. Utah

    Office space affordability: $19.91 per SF (rank: #46/50)
    Corporate taxes rank: #4/50
    Cost of living rank: #22/50


     

  • #17. Virginia
    35/ Jim // Wikimedia Commons

    #17. Virginia

    Office space affordability: $19.06 per SF (rank: #43/50)
    Corporate taxes rank: #6/50
    Cost of living rank: #33/50


     

  • #16. Rhode Island
    36/ Reading Tom // Flickr

    #16. Rhode Island

    Office space affordability: $15.85 per SF (rank: #27/50)
    Corporate taxes rank: #30/50
    Cost of living rank: #42/50


     

  • #15. Oregon
    37/ M.O. Stevens // Wikimedia Commons

    #15. Oregon

    Office space affordability: $18.36 per SF (rank: #39/50)
    Corporate taxes rank: #34/50
    Cost of living rank: #45/50


     

  • #14. Pennsylvania
    38/ Jordan // Flickr

    #14. Pennsylvania

    Office space affordability: $17.06 per SF (rank: #33/50)
    Corporate taxes rank: #44/50
    Cost of living rank: #32/50


     

  • #13. Illinois
    39/ Tony Webster // Flickr

    #13. Illinois

    Office space affordability: $16.32 per SF (rank: #29/50)
    Corporate taxes rank: #36/50
    Cost of living rank: #25/50


     

  • #12. Minnesota
    40/ AlexiusHoratius // Wikimedia Commons

    #12. Minnesota

    Office space affordability: $13.32 per SF (rank: #5/50)
    Corporate taxes rank: #43/50
    Cost of living rank: #29/50


     

  • #11. New Hampshire
    41/ John Phelan // Wikimedia Commons

    #11. New Hampshire

    Office space affordability: $13.56 per SF (rank: #8/50)
    Corporate taxes rank: #45/50
    Cost of living rank: #39/50


     

  • #10. Washington
    42/ Lonni Besançon // Flickr

    #10. Washington

    Office space affordability: $18.51 per SF (rank: #40/50)
    Corporate taxes rank: #46/50
    Cost of living rank: #37/50


     

  • #9. Delaware
    43/ likeaduck // Flickr

    #9. Delaware

    Office space affordability: $18.71 per SF (rank: #41/50)
    Corporate taxes rank: #50/50
    Cost of living rank: #35/50


     

  • #8. Hawaii
    44/ Anthony Quintano // Flickr

    #8. Hawaii

    Office space affordability: $17.84 per SF (rank: #37/50)
    Corporate taxes rank: #14/50
    Cost of living rank: #50/50


     

  • #7. Massachusetts
    45/ GoodFreePhotos

    #7. Massachusetts

    Office space affordability: $16.36 per SF (rank: #30/50)
    Corporate taxes rank: #35/50
    Cost of living rank: #48/50


     

  • #6. Maryland
    46/ Joe Wolf // Flickr

    #6. Maryland

    Office space affordability: $19.46 per SF (rank: #45/50)
    Corporate taxes rank: #20/50
    Cost of living rank: #44/50


     

  • #5. Connecticut
    47/ JJBers // Flickr

    #5. Connecticut

    Office space affordability: $18.77 per SF (rank: #42/50)
    Corporate taxes rank: #31/50
    Cost of living rank: #43/50


     

  • #4. California
    48/ Joe Parks // Wikimedia Commons

    #4. California

    Office space affordability: $23.08 per SF (rank: #47/50)
    Corporate taxes rank: #32/50
    Cost of living rank: #49/50


     

  • #3. Alaska
    49/ Paxson Woelber // Flickr

    #3. Alaska

    Office space affordability: $24.20 per SF (rank: #48/50)
    Corporate taxes rank: #26/50
    Cost of living rank: #46/50


     

  • #2. New York
    50/ John St John // Flickr

    #2. New York

    Office space affordability: $26.66 per SF (rank: #49/50)
    Corporate taxes rank: #7/50
    Cost of living rank: #47/50


     

  • #1. New Jersey
    51/ King of Hearts // Wikimedia Commons

    #1. New Jersey

    Office space affordability: $19.30 per SF (rank: #44/50)
    Corporate taxes rank: #42/50
    Cost of living rank: #41/50


     

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