White List States
A white list state is a state that has been approved by the Internal Revenue Service (IRS) to offer tax incentives to businesses that create jobs and invest in the state. These states typically offer a variety of tax breaks and incentives, such as reduced corporate income taxes, sales tax exemptions, and property tax abatements.
There are currently 26 white list states, including:
- Alabama
- Alaska
- Arizona
- Arkansas
- California
- Colorado
- Connecticut
- Delaware
- Florida
- Georgia
- Hawaii
- Idaho
- Illinois
- Indiana
- Iowa
- Kansas
- Kentucky
- Louisiana
- Maine
- Maryland
- Massachusetts
- Michigan
- Minnesota
- Mississippi
- Missouri
- Montana
- Nebraska
- Nevada
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Ohio
- Oklahoma
- Oregon
- Pennsylvania
- Rhode Island
- South Carolina
- South Dakota
- Tennessee
- Texas
- Utah
- Vermont
- Virginia
- Washington
- West Virginia
- Wisconsin
- Wyoming
The IRS periodically reviews the white list states and may add or remove states from the list. Businesses that are considering relocating or expanding should research the white list states to see if they qualify for any tax incentives.
In addition to the tax incentives offered by white list states, these states often have a strong business climate and a favorable cost of living. This makes them attractive destinations for businesses of all sizes.
If you are considering relocating or expanding your business, it is important to weigh the benefits of doing business in a white list state against the costs. Some factors to consider include:
- The tax incentives offered by the state
- The business climate in the state
- The cost of living in the state
- The availability of skilled labor in the state
By considering all of these factors, you can make an informed decision about whether or not a white list state is the right place for your business.