Due to higher average energy costs, salaries and an 8.5% corporate tax rate, 7th highest in the nation, California ranked as the most expensive state to run a business, according to a review by Approve.com. With a higher average salary, internet costs and corporate tax rate, New Jersey was the second most expensive state for running a business, while Vermont rounded out the top three. The above slideshow highlights the least expensive states for running a business based on top corporate income tax rates 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. Hungary was found to be the least expensive country to run a business, with the lowest maximum corporate tax rate (9%) and the cheapest cost for setting up an internet connection, according to Approve.com. Lithuania and the Czech Republic were the second and third cheapest countries for running a business, respectively, while Germany was found to be the most expensive country to operate a business in. Unlike in the U.S. ranking, the global list determined internet costs based on monthly prices instead of megabits. Related: |

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