Illinois Ranked Fifth Most Expensive State to Start a Business

Illinois is among the costliest states in the country to launch a business. A new ranking from Bridge Point Business Brokers places Illinois fifth out of 48 states reviewed, based on nine business cost factors. The report points to Illinois’ 9.5 percent corporate tax rate, 8.9 percent sales tax rate, and average commercial rent of $36.80 per square foot as major drivers. Nearby states ranked lower for startup costs: Wisconsin came in 13th, Iowa 22nd, Missouri 30th, and Indiana 36th. Kentucky ranked 44th, making it the fifth least-expensive state on the list.