Congratulations to the cities of St. Charles and Wentzville which recently ranked in the top 20% of 1,300 best American cities to start a business according to WalletHub. Chesterfield in St Louis County almost made the top 20%.
Wallet hub ranked these cities by comparing them around things like the overall costs of labor and corporate taxes.
Utah has a corporate tax rate of 5 % and had five of the top ten cities for doing business while California with a corporate tax rate of almost 9% ranked the worst in the nation.
If you were to rank the best grocery stores to shop at you would no doubt consider the cost of groceries as part of your system. Is it any wonder then that states with lower costs of doing business rank higher for the best states to start a business? It just makes sense, people want to start a business in cities where they are allowed to keep more of the money they’re making.