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Most expensive states to start a business

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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.

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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


 

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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


 

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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


 

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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


 

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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


 

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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


 

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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


 

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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


 

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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


 

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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


 

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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


 

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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


 

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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


 

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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


 

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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


 

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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


 

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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


 

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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


 

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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


 

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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


 

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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


 

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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


 

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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


 

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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


 

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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


 

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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


 

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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


 

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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


 

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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


 

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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


 

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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


 

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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


 

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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


 

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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


 

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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


 

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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


 

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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


 

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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


 

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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


 

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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


 

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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


 

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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


 

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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


 

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GoodFreePhotos

#7. Massachusetts

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


 

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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


 

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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


 

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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


 

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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


 

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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


 

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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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