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Most expensive states to start a business

  • Peter Zoon // Flickr
    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.

  • Greater Oklahoma City Chamber and Oklahoma City Convention and Visitors Bureau // Wikimedia Commons
    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


     

  • NatalieMaynor // Flickr
    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


     

  • Ken Lund/ Wikimedia Commons
    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


     

  • Tim Kiser // Wikicommons
    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


     

  • OPMaster // Wikimedia Commons
    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


     

  • Jon Platek // Wikimedia Commons
    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


     

  • Boise Metro Chamber of Commerce // Flickr
    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


     

  • Pruhter // Wikimedia Commons
    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


     

  • IIP Photo Archive // Flickr
    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


     

  • Pat Hawks // Flickr
    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


     

  • Bruce W. Stracener // Wikimedia Commons
    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


     

  • Kaldari // Wikimedia Commons
    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


     

  • Tim // Wikicommons
    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


     

  • James Willamor // Flickr
    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


     

  • Shreveport-Bossier Convention and Tourist Bureau // Flickr
    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


     

  • IIP Photo Archive // Flickr
    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


     

  • Reinhard Kraasch // Wikimedia Commons
    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


     

  • Jasssmit // Wikimedia Commons
    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


     

  • Ken Lund // Flickr
    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


     

  • Sam valadi // Flickr
    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


     

  • Pam Broviak //Flickr
    22/ Pam Broviak //Flickr

    #30. Kansas

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


     

  • Ken Lund // Flickr
    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


     

  • Alan Stark // Flickr
    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


     

  • Robbt // Flickr
    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


     

  • UltraView Admin // Flickr
    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


     

  • Michel Rathwell // Flickr
    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


     

  • Bob P. B. // Flickr
    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


     

  • Miwdke // Wikimedia Commons
    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


     

  • IIP Photo Archive // Flickr
    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


     

  • JoshWest.com // Flickr
    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


     

  • Ron Reiring // Wikimedia Commons
    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


     

  • Larry Johnson // Flickr
    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


     

  • Garrett // Wikimedia Commons
    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


     

  • Jim // Wikimedia Commons
    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


     

  • Reading Tom // Flickr
    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


     

  • M.O. Stevens // Wikimedia Commons
    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


     

  • Jordan // Flickr
    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


     

  • Tony Webster // Flickr
    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


     

  • AlexiusHoratius // Wikimedia Commons
    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


     

  • John Phelan // Wikimedia Commons
    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


     

  • Lonni Besan√ßon // Flickr
    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


     

  • likeaduck // Flickr
    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


     

  • Anthony Quintano // Flickr
    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


     

  • GoodFreePhotos
    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


     

  • Joe Wolf // Flickr
    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


     

  • JJBers // Flickr
    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


     

  • Joe Parks // Wikimedia Commons
    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


     

  • Paxson Woelber // Flickr
    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


     

  • John St John // Flickr
    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


     

  • King of Hearts // Wikimedia Commons
    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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