Most Incorporations by State 2023
Most people are unaware of which State has the most businesses formed. In March 2023 the State with most entities was Florida. It wasn't California, Delaware, New York or Texas. While many people believe that filings in Delaware are the leading State to incorporate that is not correct. There are a number of reasons why Florida led the nation in numbDer of business entities formed in March 2023.
Florida is one of the few States without a State income tax. This certainly contributes to the reason Florida leads the nation in incorporations. Florida is also a State with a large population that also contributes to Florida status as number 1 for new businesses in Marach 2023.
Diversity and Geography.
Another reason Florida leads in the number of new business entities formed in March 2023 is they have a diverse population with Miami, Floridia having a large community of may different demographics. As the midpoint between Latin America, South America Florida is considered the main stopping point between those countries.
Business Friendly State
While many States are business friendly the combination of no State income taxes, less regulations, large population all contributed to Florida being number one in business formations in March 2023
This information was gathered from the US Census. The common belief is that new businesses and especially incorporations are formed in States like Delaware, Wyoming, Nevada. They are considered tax shelters, have no income taxes or in the case of Delaware a special Court set up specifically for corporations and have special corporation
Caveat A number of separate publications list Delaware in the top 4 routinely and Wyoming or Nevada in the top 10 but this list was compiled based upon the US Census. www.census.gov
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