Minnesota is one of the promising destinations for new and expanding businesses in the US. There are several advantages that investors and business owners can enjoy by choosing this location for their business. In fact, Forbes has named Minnesota as the 15th best destination for businesses in the US.
There are numerous factors that make Minnesota a favorable destination to open a business. The most obvious of which is the competitive tax rates on businesses. The following are not taxed by the state government: personal property, utilities, software, inventories, and information services. For businesses big or small, low tax rates can help to improve your profit margin.
At the same time, there are strong pro-business policies in Minnesota. One of that is the Minnesota Opportunity Zones that aim to encourage long-term investments within the low-income communities in the state. Some of the advantages that can be enjoyed are temporary tax deferral on capital gains and non-taxable income on capital gains.
There are also numerous financing programs available through the Department of Employment and Economic Development. In addition, there are streamlined regulatory processes in the state to make it easier for business owners to complete the paper works for their business in a short amount of time. The overall low operating expense within the state is just a bonus. For business insurance related info please refer to our more in depth article.
At the request of our visitors we've included the below local insurance contacts for most cities in Minnesota. The state of Minnesota is known for its treacherous winters that can lead to dangerous driving conditions. Auto insurance is key to protecting your car from unpredictable weather conditions in this upper-Midwestern state. Fortunately, several nationwide insurance companies offer affordable coverage options in Minnesota. If you're looking for cheap insurance, you can compare rates and get quotes from the contacts we've provided. Despite the icy road conditions that plague Minnesota during the winter months, you can still find low cost car insurance that meets the minimum requirements mandated by the state. For additional information on traffic laws or driving schools please navigate to your respective state using the map. And for manufactured home insurance, please refer to the respective article.
Located in the upper Midwest region of the U.S., the state of Minnesota is dubbed as "Land of 10,000 Lakes", as it houses literally more than 10,000 lakes (officially has 11,500 lakes), including Lake Itasca, the primary source of the Mississippi River. It borders Canada and the Lake Superior, the biggest of the Great Lakes.
The "Twin Cities" of Minnesota's state capital Saint Pail and Minneapolis are both dense when it comes to cultural landmarks, such as the Walker Art Center (a modern art museum) and the Science Museum of Minnesota. Both are world-famous for their amazing collections of historical, artistic, and scientific artifact exhibits.
Around 7 million people live in Minnesota's frigid conditions. Residents experience around 70 inches of snow each year in the region, and with an average of 8 degrees Fahrenheit. This is why ice hockey, ice-fishing, cross-country skiing, and other snow sports are extremely popular in any cities in the state.
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