Location, location, location. It's a common refrain batted around when buying a new home or starting a new business. Of course, in both instances, location can also lead to dramatic cost differences. The above slideshow highlights the most expensive states to run a business based on top corporate income tax rate and average costs for salaries, electricity (cents per kWh), internet service (price per Mbps) according to research from Approve.com. The study includes Washington D.C., but excludes Hawaii or Alaska due to "unavailable data," according to the site. The cheapest place to start a business, according to Approve.com's research, was Texas. The Lone Star State has some of the lowest costs for electricity, 8.52 centers per kilowatt hour, and the lowest employee salaries, averaging $39, 640. Its corporate tax rates were excluded from the ranking, as the state has a franchise tax that isn't directly comparable. Texas just beat out its neighbor Oklahoma, which has cheaper energy rates and employee salaries, on average, but a slightly higher cost for internet service per megabit (Mbps). Looking globally, the United States was ranked the fourth most expensive country to run a business, with Germany, Australia and Denmark taking the top three spots, respectively. While the U.S. had higher averages for salaries ($69, 394) and internet costs ($65.94/Mbps), it had lower energy costs and corporate tax rates than the top three. Related: |

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