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10 Best states for starting a business

Attention libertarians! Find out where the cold, dead hand of the state weighs lightest. Rankings provided by the Small Business & Entrepreneurship Council.

Taxes
Top personal income tax rate: 4.35%
Top corporate income tax rate: 1.9%
Property tax: 3.90%
Energy
Electric Utilities Costs †: 0.94
Labor
Minimum wage: $7.15
† Index of state's average revenue/kilowatt hour.
6. Michigan
Michigan is the only state in the SBE Council's top 10 that is currently in a recession. That's because taxes are fairly low all round with the exception of the state's onerous property taxes. "Michigan is having its economic challenges as it transitions into other industries in order to replace the strength of the automobile industry that once was," Kerrigan says. "The good news is that it's still a good place to do business in terms of the policy climate and the workforce."
South Dakota Nevada Wyoming Washington Florida Michigan Texas South Carolina Virginia Alabama
Read full story here. (more)
In exclusive rankings for FSB.com from the Small Business & Entrepreneurship Council, we looked for places low on taxes and light on government regulations. These places aren't. (more)