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(Iowa) -- A national small business website ranks Iowa near the middle of the list of states where it's least expensive to start a business.
Simplify LLC ranks Iowa 23rd in the nation on its recent survey looking at the cost of starting a business in all 50 states and Washington, D.C. The study found Iowa employers pay workers $50,262 a year on average and pay a 7% corporate tax rate. The survey found the average commercial electric bill in Iowa is $417.19 per month. According to Simplify LLC, the five least expensive states in which to start a business include:
- Nevada
- Colorado
- Arkansas
- Montana
- North Carolina
The five most expensive states for business startups include:
- Minnesota
- New York
- Louisiana
- Alabama
- Alaska
The full nationwide survey is available online.