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Texas ranks No. 2 best state to start a business in new report

“Entrepreneurship is driven by the desire for independence,” Capital on Tap COO Damian Brychcy said.

Creating a small business might be daunting, but new research shows starting it in Texas is one of the best decisions you can make to follow your passion.

Business credit card experts Capital on Tap determined Texas is the second best state to start a small business, right after Florida. They retrieved their data from the U.S. Bureau of Labor Statistics based on several factors, including new firm survival rates, corporate tax rates, the number of entrepreneurs per state, and more.

Texas has very friendly tax frameworks when it comes to small businesses; it is one of five total states that don’t impose any income tax. Furthermore, all Texas businesses that make less than $1.08 million in revenue don’t owe any franchise tax. That also includes all businesses that have less than $1,000 in tax liability.

If a small business owner in Texas needed to take out a loan, they’d be able to secure $4,811 per employee, which is the fifth-highest average loan amount in a calculation of all 50 states.

Capital on Tap COO Damian Brychcy says in a release that the decision to start a small business involves assessing several factors and risks, but he hopes his team’s research can provide future guidance for businesses and entrepreneurs no matter where they reside.

“Entrepreneurship is driven by the desire for independence,” he says. “This includes the freedom to pursue your passion, choose your workplace and working hours, and foster personal growth.”

Florida earned its top spot in the report due to its strong support of local economies with the highest number of jobs created by start-ups per 1,000 residents in the state. However, unlike Texas, Florida small businesses have to pay a 5.5 percent corporate tax rate.

The top states that are the best places to start a small business include:

No. 1 – Florida
No. 2 – Texas
No. 3 – Idaho
No. 4 – Nevada
No. 5 – North Carolina
No. 6 – Colorado
No. 7 – Washington
No. 8 – Georgia
No. 9 – California and Montana (tied)
No. 10 – Utah

Texas regularly appears near the top of lists of business-friendly states. It ranked third in personal finance website WalletHub's January report, 2023's Best & Worst States to Start a Business. In February, Texas was named fifth best state for women entrepreneurs in Merchant Maverick’s annual ranking.

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Former Cowboy news

Ex-Dallas Cowboy Tony Romo placed on leave from CBS Sports after arrest

New York Upfront Partnership Event 2026 – Thursday, April 23rd

Photo by Noam Galai/Getty Images for Paramount

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Tony Romo has been placed on leave from his role as the lead analyst on CBS’ NFL coverage following his arrest last week on suspicion of operating a vehicle while under the influence.

CBS Sports announced Friday, July 31 that the former Dallas Cowboys quarterback was on leave “until further notice.” JJ Watt will join Jim Nantz and Tracy Wolfson as CBS Sports’ lead NFL team during Romo’s absence.

Romo, 46, was arrested July 23 after he was stopped while driving south on Interstate 43 in Wisconsin. According to the Milwaukee County Sheriff’s Office report, Romo performed poorly on field sobriety tests before getting taken into custody, booked and released.

He has a court date set for September 21.

CBS Sports’ announcement comes after citations released by the Milwaukee County Sheriff’s Office indicated an open bottle of an alcoholic beverage was found in the passenger’s side of Romo’s black Jeep during an inventory before it was towed.

According to the citations, police stopped Romo after he was seen passing cars in a gore area, which separates interstate traffic from cars entering from an on-ramp. Police said Romo questioned what a gore area was during the stop.

Body camera footage released earlier this week showed Romo telling deputies he had been coming from a golf course and was on his way “to visit grandma and grandpa” when he was stopped. A deputy told Romo he suspected him of being impaired because he had “red glassy eyes” and an “odor of an intoxicating alcoholic beverage.”

Romo went to high school about 35 miles from Milwaukee in Burlington, Wisconsin.

He has been the lead game analyst for CBS’ NFL coverage since 2017 after making four Pro Bowl appearances during an NFL career that ran from 2004-16 and was spent entirely with Dallas.

Romo remains the Cowboys’ franchise leader in career touchdown passes with 248. He held the franchise record for career passing yards (34,183) until Dak Prescott overtook him last season.

Super Bowl LVIII - San Francisco 49ers v Kansas City Chiefs Tony Romo has been placed on leave by CBS after arrest on suspicion of operating vehicle under the influence. Photo by Rob Carr/Getty Images

Watt joined CBS in 2023. He was an analyst on “The NFL Today” for two seasons before teaming with Ian Eagle on the network’s No. 2 crew beginning last season.

Romo wasn’t expected to have his first game until the opening Sunday of the regular season on September 13. CBS will air a preseason game between the Cincinnati Bengals and Philadelphia Eagles on August 28.

CBS likely will reveal its game assignments and announcer pairings for the first three weeks of the regular season in the next couple of weeks.

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