I have been in business for over ten years in the state of MD doing HVAC construction with an annual revenue of 2-3 mil. But taxes are too high here and we need to move to a less burdensome state. Can this be done? Which state offers the lowest tax and unemployment tax rates? and how does one go about doing this? I am an Scorp.
There are a bunch of business-friendly states, one of the most attractive ones being Texas. You might find Florida relatively attractive since they have no income tax. Other states you might find interesting are Wyoming, New Hampshire, Delaware, Arizona, Nevada etc.
Once you decide on a state where you want to move check with us if this state would allow change of corporate domicile. If yes then you would usually have little problem moving your business as is to the new state.
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