Business owners know that keeping an eye on the finances is vital to maintaining a profitable company. In fact, many businesses pay close attention to all areas of expense including taxes. If you have a business in a state with a high tax rate, you might be considering a corporate relocation to one of the states with a lower tax burden. Some states also have much lower income taxes, which can make your company more appealing to potential employees.
A. Frisella Moving & Storage has spent over a century helping companies with out-of-state transitions. Our experienced, trained St. Louis commercial movers are able to provide a swift relocation to one of the states with a low or no business tax, such as:
- North Carolina
If you have another state in mind for your company’s relocation, our St. Louis office movers will work with you to develop a moving plan and carry it out.
Moving Your Business to Lower Your Income Taxes
You’d be surprised at how much you can save by moving to one of these states. In Missouri, the personal income tax rate as of 2021 caps out at 5.4% and the corporate tax rate caps out at 4% too. According to the Tax Foundation non-profit’s website, these taxes are much lower or completely absent in other states. For instance:
Florida’s Business & Income Taxes
One of the big draws of Florida is its zero percent personal income tax rate. Yes, Florida has no state income tax which can encourage your workers to make the move with your company to this Southern locale.
Florida also has a low corporate tax rate of about 4.45% for 2021. This tax rate is set to increase to 5.5% in 2022.
Nevada’s Business & Income Taxes
There are also no personal income taxes in the state of Nevada. Your employees would enjoy keeping that extra income, while also living in a warm western state.
Nevada’s corporate tax rate is similarly forgiving at zero percent. There is no corporate income tax applied in Nevada. Although, companies with employees may have payroll taxes and companies grossing more than $4 million per year may face a commerce tax.
North Carolina’s Business & Income Taxes
North Carolina has opted for the tactic of simplifying state taxes for residents and companies. The state has a flat rate personal income tax of 5.25% for all residents regardless of income level.
The state’s corporate income tax is a flat rate of 2.5%, which also happens to be the lowest corporate tax rate in the country.
Moving Your Business to Attract Employees
Moving to one of these three states will even improve quality of life for many of your workers, while also improving operations for your company. For instance, Florida has several large cities with rich culture, entertainment, and food. It’s also a warm, beautiful climate. Not to mention there are plenty of beaches to enjoy!
If you are interested in Nevada, your employees will also benefit from year-round sunny days. Nevada is also home to Las Vegas, where your staff can blow off some steam with live entertainment, games, and food.
Lastly, North Carolina offers the coastal access with a more temperate climate. It’s also a quick drive up or down the Coast to historic cities and cultural centers, like Virginia Beach or Charleston.
Our Business Moving Services
A. Frisella Moving & Storage offers long-distance and interstate moving services that commercial clients can trust. We have developed a smooth, streamlined process over the years that allows our St. Louis business movers to quickly carry out your relocation.
Our team can provide comprehensive business moving services, such as:
- Full-Service Packing
- Furniture Pad-Wrapping
- Debris Removal Services
- Move Management
- Furniture Disassembly/Assembly
- Short- or Long-Term Storage
Learn About Our Employee Relocation Services
We’re also proud to support our business clients during their move with employee relocation services. Our team can make sure your staff is able to move with you to that new state in a timely manner. We’ll work with your Human Resources Department or coordinate moves with individual employees.
As Bekins Van Line agents, we’re able to provide dedicated long-distance moving services, like:
- Sale of Packing Supplies
- Full Packing Services
- Furniture Pad-Wrapping
- Temporary Storage
If you are thinking about a corporate relocation to a lower tax state, make sure to use a professional moving company for the job. A. Frisella Moving & Storage has the training and resources to carry out your business move and any employee relocations too. Give us a call or fill out our online form to request a free consultation with cost estimate.
Subscribe to A. Frisella Moving & Storage Services's Blog