Best Corporate Tax Favorability for New Firms (Tax Foundation, 2021)
Best Business Environment (US News & World Report, 2023)
Best Corporate Tax Favorability for Mature Firms (Tax Foundation, 2021)
Delaware is home to a highly attractive economic environment where today’s companies excel. Here, we merge an accessible and willing government with a low cost of doing business and powerful legal, governing, and corporate tax regulations that make Delaware one of the best place to incorporate your business and strategically position your company.
As the state with the third best business environment in America, Delaware is a game-changing location for companies choosing to operate on the East Coast. Delaware has the second lowest tax burden for new firms and the third lowest tax burden for mature firms. In a high-cost region like the Northeast, that makes a big difference ― just ask companies like Incyte, JPMorgan Chase, and Chemours.
Delaware is an excellent state for business taxes. The state has no sales tax, no personal property tax, no inventory tax, and no value-added tax (VAT). Delaware has a corporate income tax rate of 8.7%―one of the more competitive rates in the Mid-Atlantic―and transitioned to single sales factor apportionment, which rewards companies for investing in Delaware and reduces the tax liabilities of businesses that have significant property and payroll in the state. Thanks to this and our other pro-business advantages, more than a million businesses, including Fortune 500 companies like AT&T, Bank of America, Coca-Cola and Wal-Mart, have chosen to incorporate in Delaware.
Forming a business in Delaware is easy thanks to two important factors:
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