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Come to (western) Michigan. We have new corporate tax reforms that dramatically reduced liabilities (6% rate for C-Corps, flow-through taxation for LLCs and S-C
by jstalin 14y ago
Come to (western) Michigan. We have new corporate tax reforms that dramatically reduced liabilities (6% rate for C-Corps, flow-through taxation for LLCs and S-Corps, personal income tax rate of 4.3%), we have a 6% sales tax, low property taxes, very cheap housing (compared to much of the nation), well-educated workforce, and liberal gun laws (for the guy who wouldn't move to NY). Our 4.3% income tax rate is still lower than CA's QSB credit rate.
EDIT: Michigan's new corporate income tax also has an alternative rate of 1.8% for Qualified Small Businesses... those with net income under $1.3 million. If your corporation operates outside of Michigan and has no activity in Michigan itself, there is no corporate income tax.
- jstalin 14y agoForgot to mention - it costs $50 to form an LLC in Michigan and takes about a week (I've heard horror stories about forming an LLC in CA). $100 additional for same-day service. And you don't have to publicly disclose the LLC's members, only the registered agent, which can be an attorney or any other resident of the state. Forming a Michigan corporation is $60 and has a few more public disclosure requirements.
- rgbrenner 14y agoA whole $50?! Colorado: $1.00 for your Articles of Incorporation (Corp) or Articles of Organization (LLC). It's online filing.. takes a day(?). http://sos.state.co.us/pubs/info_center/fees/business.html#BIZ http://sos.state.co.us/pubs/info_center/fees/business.html#B...
- jstalin 14y agoLOL, ok, you win.
- flagnog 14y agoAnd Detroit... oh, wait - Western Michigan. Should be a new state.
- jstalin 14y agoIndeed. Avoid eastern Michigan. Western Michigan is like a totally different state.
- w1ntermute 14y agoWhat are some good cities in Western Michigan?
- jstalin 14y agoGrand Rapids is the biggest of them. It's a nice area, decent and growing downtown, lots of activities, good housing stock, growing diversity, etc.
- rglovejoy 14y agoKalamazoo is very nice too. The downtown is beautiful and the people there are very civic-minded: http://en.wikipedia.org/wiki/Kalamazoo_Promise http://en.wikipedia.org/wiki/Kalamazoo_Promise
- pico303 14y agoAnd the weather. You guys have that great weather as compared to say, oh, San Diego.
- rgbrenner 14y agoMaybe you and the OP should come to Colorado instead... 4.63% flat-rate personal and corporate tax rate, and the 3rd best educated workforce in the country. http://www.foxbusiness.com/personal-finance/2012/10/15/americas-best-and-worst-educated-states/ http://www.foxbusiness.com/personal-finance/2012/10/15/ameri...
- SomeCallMeTim 14y agoBoulder in particular was named "America's best town for startups" [1]. And if you're coming from California, you'll be right at home with the high property costs. ;) [1] http://www.businessweek.com/stories/2010-04-22/why-boulder-is-americas-best-town-for-startupsbusinessweek-business-news-stock-market-and-financial-advice http://www.businessweek.com/stories/2010-04-22/why-boulder-i...