MADISON, WI (WTAQ-METRO) – Wisconsin’s largest business group is not surprised the state is in the bottom tier when it comes to starting a new business.
WalletHub released a new survey this week that ranks Wisconsin 37th in the nation for starting a new business.
Scott Manley with Wisconsin Manufacturers & Commerce says that should be expected. He says small businesses don’t pay corporate tax rates, they pay personal income tax rates, and he says Wisconsin has the 10th highest personal income tax in the country.
Manley says Wisconsin’s other costs and the state’s worker shortage doesn’t help either.
Utah, Florida, and Texas are the top three states to start a new business according to the WalletHub list. While West Virginia, Connecticut, and Alaska are the bottom three states.
To look at the entire survey click here.
