Texas Nears Top of List for Small Business Climate
Dallas, TX (Law Firm Newswire) January 26, 2012 – Texas is one of the best states in the country for entrepreneurs because of its low taxes and bold policymaking that encourages small businesses to grow.
The Small Business & Entrepreneurship Council recently released a ranking of the states according to climate for entrepreneurship and small business, and Texas is third in the country this year behind only South Dakota and Nevada.
The SBE Council reported that Texas ranked high because the state has no personal income tax, death tax, individual capital gains or corporate capital gains taxes. The ranking committee also liked Texas’ low state and local government spending and low workers’ compensation payouts.
“We have known for a long time that Texas is an excellent place for entrepreneurs,” said Dallas business lawyer Ty Gomez. “I did not realize the rest of the country still has so much catching up to do.”
The SBE Council considers 44 government-related expenses that affect entrepreneurs and small businesses, according to the SBE’s press release. Other factors included in the index include regulatory costs, property rights, energy costs and health care policies.
“Texas is weathering the economic storm better than the rest of the country because we recognize the importance of entrepreneurship,” Gomez said. “Small businesses are critical to the economic balance Texas enjoys.”
Western states made up four of the top five in the index with Wyoming and South Carolina coming in right behind Texas. The bottom five states were California, Rhode Island, Vermont, New Jersey and in last place was New York.
Gomez Law Group is a Dallas employment lawyer and Dallas business lawyer. To learn more about Dallas business lawyer, Dallas employment lawyer, Dallas business attorney, or Dallas employment attorney Ty Gomez, visit http://www.gomezlawyers.com.
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