After passing the budget here’s in NY NY will be spending TWICE as much as the COMBINED budgets of both Florida and Texas.
Think about the amount of taxes levied from each resident and business to accomplish that much state spending.
It has nothing to do with “services provided “ in NY
Also NY has half as many people than Florida but some how Florida provides it residents with the same needed services as NY but on less than a quarter of the tax money NY spends.
Here’s a little NY fun fact for you.
The George Washington bridge toll for a 5 axel truck during peak hrs is $110.00 and the bridge is less than a mile long.
The Sunshine skyway bridge in Florida which is over FOUR miles long for the same 5 axel truck is $6.00.
Did I mention that Florida also has no state income tax?
Maybe this will help you understand why many people who have generations of deep family ties in NY don’t want to run a business based here.
Which state should I incorporate in?
Discussion in 'Ask An Owner Operator' started by hsingh_2, Apr 6, 2021.
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Now this doesn't go for all industries, but for a lot, you are better off opening in a different state. -
I will be getting either a PO Box that allows me to use a real street address, or I will use one of my families addresses. -
God prefers Diesels Thanks this.
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Well I think trying to cheat on taxes is a bad thing, I am assuming you will operating your business out of New York and not declaring it as a foreign entity operating in New York and pay New York taxes. If you don’t register, this will cause New York to consider it a foreign company operating illegal within New York which means a criminal investigation by New York and the involvement of the domicile state to see if there is any other hidden money that New York can tax. This will lead to the irs being involved and another audit by them could happen.
Bean Jr. Thanks this. -
Donor States 2021Last edited: Apr 8, 2021
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Indiana is a good state. But unless you live here then not sure how successful you’ll be doing what you want to do. I recall seeing another member on this forum who’s insurance cancelled him or at least greatly increased his rate over the same thing. They’ll look at your IFTA and it’ll clearly show the yard isn’t in Indiana.
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