Minnesota among most expensive states for Startups

Photo by: WDAY Radio Staff
Photo by: WDAY Radio Staff

(Minneapolis, MN) -- A new study finds Minnesota is among the most expensive states in the country for starting a company.

The study comes from Simplify LLC, an online information site for new businesses.

Among other factors, the study looked at tax rates and the cost of running a business, such as utility costs. The study found Minnesota has the highest corporate income tax rate in the country.

On the other hand, the study found Minnesota is one of the best states for percentage of working-age people in the workforce.