#LegalBytes: The Official Podcast of Cummings & Cummings Law

Attorney and CPA Chad D. Cummings analyzes the lessons from Europe and the risks of California’s proposed wealth tax in this presentation. Of the twelve industrialized countries that imposed wealth taxes in 1990, nine repealed them by 2025 because the taxes proved difficult to administer, drove wealthy residents away, and generated far less revenue than projected. France lost an estimated 200 billion euros over two decades and repealed its wealth tax in 2018. Stanford economists Joshua Rauh and Benjamin Jaros applied that experience to California’s ballot measure and estimated it would raise only about $40 billion—not the $100 billion claimed—with 30 percent of the targeted billionaire wealth base already having left before the residency deadline. The federal proposal has already dropped the threshold from one billion to fifty million dollars and includes a 40 percent exit tax. This presentation explains how redomestication, paired with a change of personal residency and reduction of business operations in California, allows business owners to move their companies out of California. The process transfers the entity’s domicile without dissolution and without federal income tax consequences when done properly. Learn more: https://www.cummings.law/redomestication/

Attorney and CPA Chad D. Cummings discusses the rapid expansion of wealth tax proposals targeting California business owners in this presentation. What began as a ballot measure marketed as a five percent tax on billionaires has already broadened, with federal proposals now aiming at net worth above fifty million dollars and a 40 percent exit tax for those who leave. California’s aggressive residency audits through the Franchise Tax Board, combined with the pattern seen in other jurisdictions where thresholds creep lower over time, make the risk immediate. Florida and Texas impose no state personal income tax and no wealth tax. This presentation explains how redomestication allows business owners to transfer their company’s legal domicile to a new state without dissolving the entity, without creating a new company, and on a completely tax-free basis while preserving the same FEIN, contracts, credit history, and bank accounts. If you own a business in California, the direction of these proposals makes clear why now is the time to act. Learn more: https://www.cummings.law/redomestication/

Attorney and CPA Chad D. Cummings explains the strategic benefits of timely filing an Section 83(b) election in this presentation. By filing within 30 days of receiving property subject to a substantial risk of forfeiture, you lock in ordinary income recognition at the grant-date fair market value rather than at each vesting date, convert future appreciation into capital gain, start the capital gains holding period immediately, eliminate uncertainty around future tax rates and vesting events, and simplify the treatment of LLC or partnership interests. These advantages can deliver substantial tax savings when the property’s value at grant is low relative to its expected future value, but the election is irrevocable, carries risk if the property is forfeited, and must be filed correctly with no extensions. This presentation covers when the election makes sense, the mechanics, common pitfalls, and why professional guidance is essential. Learn more: https://www.cummings.law/onboard/83b/index.html

Attorney and CPA Chad D. Cummings explains how to file an Section 83(b) election in this presentation. Under Section 83(b) of the Internal Revenue Code, a person who receives property in connection with the performance of services that is subject to a substantial risk of forfeiture can elect to recognize the fair market value as income at the time of receipt rather than at each vesting date. This election accelerates the taxable event but can convert future appreciation from ordinary income to capital gains, delivering substantial tax savings when the property’s value at grant is low relative to its expected future value, such as with early-stage founder stock. However, the election is irrevocable, must be filed with the IRS within 30 calendar days of the transfer with no extensions, and carries real risk if the property is later forfeited or declines in value. This presentation covers when the election makes strategic sense, the interaction with state taxes, common pitfalls, and why professional guidance from a licensed attorney and CPA is essential before filing. Learn more: https://www.cummings.law/redomestication/

Attorney and CPA Chad D. Cummings discusses Dell Technologies' decision to redomesticate from Delaware to Texas in this presentation. On May 4, 2026, Dell's Board of Directors unanimously approved the move, with a stockholder vote scheduled for June 25. Dell joins Tesla, ExxonMobil, TripAdvisor, Dropbox, and Pershing Square in leaving Delaware for Texas. The company, founded in a University of Texas dorm room, maintains its global headquarters in Round Rock and its largest domestic workforce in Texas. This redomestication aligns the legal domicile with operational reality without dissolving the entity, without creating a new company, and without triggering federal income tax. The company retains its FEIN, contracts, credit history, and NYSE listing. The same redomestication process our firm has successfully completed for over five hundred companies works for businesses of any size. If a Fortune 50 company is making this change, the question for every business owner still domiciled in a high-tax state is what you are waiting for. Learn more: https://www.cummings.law/redomestication/

Attorney and CPA Chad D. Cummings explains why Wyoming ranks first on the Tax Foundation’s 2026 State Tax Competitiveness Index in this presentation. The state imposes no individual income tax, no corporate income tax, no estate tax, and no inheritance tax, with low sales and property tax burdens. However, Wyoming’s revenue model depends heavily on severance taxes from oil, gas, and coal, creating volatility, and it maintains an uncapped capital stock tax on business net worth. Florida and Texas offer the same zero-income-tax advantage with more diversified economies and larger markets. This presentation shows how redomestication allows business owners to transfer their company’s legal domicile to or from Wyoming without dissolving the entity, without creating a new company, and on a completely tax-free basis while preserving the same FEIN, contracts, credit history, and bank accounts. If you own a business considering Wyoming or need to move an existing Wyoming entity, this is the right way to do it. Learn more: https://www.cummings.law/redomestication/

Attorney and CPA Chad D. Cummings examines Wisconsin’s mixed tax competitiveness in this presentation. The state ranks 21st on the Tax Foundation’s 2026 State Tax Competitiveness Index with strong sales and property tax components, a uniform property tax system, no estate tax, and an overfunded pension system at 102 percent. However, Wisconsin maintains a high top individual income tax rate of 7.65 percent that the legislature has not reduced and a 7.9 percent corporate rate with a throwback rule and limited expensing. These weaknesses offset the stronger elements of the tax code. Florida and Texas impose no state personal income tax and offer far more competitive environments overall. This presentation shows how redomestication allows Wisconsin business owners to transfer their company to another state without dissolving the entity, without creating a new company, and on a completely tax-free basis while preserving the same FEIN, contracts, credit history, and bank accounts. If you own a business in Wisconsin, the good parts of the tax code cannot fully offset the high income and corporate rates. Learn more: https://www.cummings.law/redomestication/

Attorney and CPA Chad D. Cummings examines West Virginia’s tax position in this presentation. The state ranks 32nd on the Tax Foundation’s 2026 State Tax Competitiveness Index with a top individual income tax rate of 4.82 percent and a corporate rate of 6.5 percent. While West Virginia has reduced rates and maintains a fully funded pension system, it carries one of the highest per capita debt loads in the country at $13,160, relies heavily on volatile energy extraction revenue, and imposes local gross receipts taxes that add variable burdens. Florida and Texas impose no state personal income tax and offer more stable, competitive environments. This presentation shows how redomestication allows West Virginia business owners to transfer their company to a new state without dissolving the entity, without creating a new company, and on a completely tax-free basis while preserving the same FEIN, contracts, credit history, and bank accounts. If you own a business in West Virginia, the combination of high debt, commodity-dependent revenue, and ongoing tax burdens makes a compelling case for action. Learn more: https://www.cummings.law/redomestication/

Attorney and CPA Chad D. Cummings explains Washington’s declining tax competitiveness in this presentation. The state ranks 45th on the Tax Foundation’s 2026 State Tax Competitiveness Index after imposing a 9.9 percent capital gains tax, maintaining a multiple-rate Business and Occupation gross receipts tax that applies to revenue regardless of profit, raising its estate tax to the highest rate in the country at 35 percent, and layering additional taxes on digital services and advertising. These changes have erased Washington’s former advantage as a no-income-tax state and created one of the most burdensome tax environments for businesses and high earners. Florida and Texas impose no state personal income tax, no capital gains tax, and no estate tax. This presentation shows how redomestication allows Washington business owners to transfer their company out of Washington State without dissolving the entity, without creating a new company, and on a completely tax-free basis while preserving the same FEIN, contracts, credit history, and bank accounts. If you own a business in Washington, the policy direction and tax burdens make clear why now is the time to act. Learn more: https://www.cummings.law/redomestication/

Attorney and CPA Chad D. Cummings examines Virginia’s tax structure in this presentation. While the state maintains a moderate 5.75 percent individual income tax rate and a 6.0 percent corporate rate, the real burden comes from local taxes. Virginia localities can impose a BPOL gross receipts tax, a business personal property tax with no de minimis exemption, and other levies that vary by jurisdiction, creating significant compliance costs and effective rates that exceed the headline numbers. Combined with nonconformity on expensing and other structural issues, these local taxes make Virginia less competitive than states with no income tax. Florida and Texas impose no state personal income tax and offer far simpler, lower-burden environments. This presentation shows how redomestication allows Virginia business owners to move a company to another state without dissolving the entity, without creating a new company, and on a completely tax-free basis while preserving the same FEIN, contracts, credit history, and bank accounts. If you own a business in Virginia, the local tax layer may justify making the move. Learn more: https://www.cummings.law/redomestication/

Attorney and CPA Chad D. Cummings explains Vermont’s poor tax competitiveness in this presentation. The state ranks 42nd on the Tax Foundation’s 2026 State Tax Competitiveness Index with a top individual income tax rate of 8.75 percent, a corporate rate of 8.5 percent, the highest effective property tax burden in the nation as a percentage of personal income, and a 16 percent estate tax. Vermont is considering further income tax increases that would worsen its ranking, while neighboring New Hampshire ranks 3rd after eliminating its individual income tax. Florida and Texas impose no state personal income tax and offer far more competitive environments. This presentation shows how redomestication allows Vermont business owners to transfer their company’s legal domicile to Florida or Texas without dissolving the entity, without creating a new company, and on a completely tax-free basis while preserving the same FEIN, contracts, credit history, and bank accounts. If you own a business in Vermont, the structural burdens and policy direction make a compelling case for change. Learn more: https://www.cummings.law/redomestication/

Attorney and CPA Chad D. Cummings examines Utah’s strong tax competitiveness in this presentation. The state ranks 15th on the Tax Foundation’s 2026 State Tax Competitiveness Index with a flat 4.5 percent individual and corporate income tax rate, permanent full expensing, no throwback rule, no capital stock tax, and an overfunded pension system at 104 percent. Utah serves as a model for states that impose all major taxes while maintaining broad bases and low rates. However, 4.5 percent is still a tax. Florida and Texas impose no state personal income tax. This presentation shows how redomestication allows Utah business owners to transfer their company from one state to another without dissolving the entity, without creating a new company, and on a completely tax-free basis while preserving the same FEIN, contracts, credit history, and bank accounts. If you own a business in Utah, the state does many things right, but zero remains the better number. Learn more: https://www.cummings.law/redomestication/

Attorney and CPA Chad D. Cummings explains why Texas remains one of the strongest states for business ownership and how redomestication provides seamless flexibility in this presentation. Texas ranks seventh on the Tax Foundation’s 2026 State Tax Competitiveness Index with no individual income tax, no estate tax, no inheritance tax, and a franchise tax that applies only to larger entities. The state has built a pro-business legal infrastructure including a dedicated Business Court and strong governance protections that have attracted major companies such as Tesla and ExxonMobil. This presentation covers the advantages of redomesticating into Texas from a high-tax state as well as the process for Texas-domiciled businesses that need to move the entity when life circumstances require relocation. Redomestication transfers the company to a different state, without creating a new entity, and without triggering federal income tax when performed correctly. The company retains its FEIN, contracts, credit history, and bank accounts. Whether you are moving into Texas or out of Texas, the process is flat-fee, remote, and handled end-to-end by a licensed attorney and CPA admitted in Texas. Learn more: https://www.cummings.law/redomestication/

Attorney and CPA Chad D. Cummings explains the top six mistakes business owners make when selling or transferring an LLC in this presentation. From operating without a proper operating agreement, to dissolving the company instead of redomesticating it, failing to register in the state where you actually conduct business, using free contract templates, commingling personal and business funds, and neglecting to update formation documents, these common errors expose owners to unnecessary risk, tax consequences, compliance violations, and lost value. This presentation walks through each mistake with practical guidance on how to avoid them and protect both the seller and the buyer during a transfer. Learn why redomestication is often the correct path instead of dissolution and how proper planning preserves your FEIN, contracts, credit history, and liability protection. If you are preparing to sell or transfer your company, this presentation will help you avoid costly pitfalls. Learn more: https://www.cummings.law

Attorney and CPA Chad D. Cummings explains the five critical steps every LLC owner must take before selling a membership interest in this presentation. From reviewing the operating agreement for transfer restrictions, to choosing between a membership interest sale and an asset sale, cleaning up compliance issues before due diligence, evaluating the state of domicile and the benefits of redomestication, and obtaining a professional valuation, each decision affects the purchase price, tax consequences, and risk of post-closing disputes. This presentation walks through the practical, legal, and tax considerations that protect both sellers and buyers and help maximize value in an LLC transaction. Whether you are preparing to sell or considering acquiring an existing LLC, these steps reduce surprises and position the deal for success. Learn more: https://www.cummings.law

Attorney and CPA Chad D. Cummings highlights Tennessee’s dramatic tax reform success in this presentation. The state has climbed from 38th to 8th on the Tax Foundation’s 2026 State Tax Competitiveness Index by fully eliminating its individual income tax, making it one of the best states in the country for pass-through businesses. Tennessee also maintains a pension system funded at 108 percent and strong fiscal discipline. This presentation shows how redomestication allows business owners to transfer a company legal domicile without dissolving the entity, without creating a new company, and on a completely tax-free basis while preserving the same FEIN, contracts, credit history, and bank accounts. For owners in neighboring states still paying income taxes ranging from 4.25 percent to 6.5 percent, the comparison is clear. Learn about redomestication: https://www.cummings.law/redomestication/

Attorney and CPA Chad D. Cummings presents this overview of why South Dakota ranks second on the Tax Foundation’s 2026 State Tax Competitiveness Index. The state imposes no individual income tax, no corporate income tax, and no gross receipts tax, along with no estate tax, no inheritance tax, and no tangible personal property or inventory taxes. With a fully funded pension system at 100 percent and a simple, transparent tax structure built on sales and property taxes, South Dakota offers one of the most competitive environments in the country. This presentation shows how redomestication allows business owners to transfer their company to a new state without dissolving the entity, without creating a new company, and on a completely tax-free basis while preserving the same FEIN, contracts, credit history, and bank accounts. Whether you are coming from a high-tax state in the upper Midwest or looking for a stable zero-income-tax jurisdiction, this is the proper legal mechanism. Learn more: https://www.cummings.law/redomestication/

Attorney and CPA Chad D. Cummings examines South Carolina’s tax situation in this presentation. The state ranks 29th on the Tax Foundation’s 2026 State Tax Competitiveness Index and recently enacted a temporary reduction of its top individual income tax rate to 6.0 percent that expires after one year. South Carolina also maintains an uncapped capital stock tax on net worth, a split-roll property tax system that shifts a heavier burden onto businesses, and a pension system funded at only 69 percent. These structural issues continue even as incremental rate changes are made. Florida and Texas impose no state personal income tax and offer significantly more competitive environments. This presentation shows how redomestication allows South Carolina business owners to transfer their business to another state to Florida or Texas without dissolving the entity, without creating a new company, and on a completely tax-free basis while preserving the same FEIN, contracts, credit history, and bank accounts. If you own a business in South Carolina, a one-year rate cut is not a long-term solution. Learn more: https://www.cummings.law/redomestication/

Attorney and CPA Chad D. Cummings explains Rhode Island’s ongoing tax competitiveness challenges in this presentation. The state ranks 40th on the Tax Foundation’s 2026 State Tax Competitiveness Index with below-average performance across all major categories. Rhode Island maintains a graduated individual income tax topping out at 5.99 percent with a marriage penalty, a 7.0 percent corporate income tax, an estate tax, and complex unemployment insurance rules. A proposed surcharge would push the top individual rate to 8.99 percent. These burdens create a high effective tax environment in a small state where crossing the border is easy. Florida and Texas impose no state personal income tax and offer far more competitive structures. This presentation shows how redomestication allows Rhode Island business owners to transfer a corporation or LLC to a new state without dissolving the entity, without creating a new company, and on a completely tax-free basis while preserving the same FEIN, contracts, credit history, and bank accounts. If you own a business in Rhode Island, the ranking and policy direction make a compelling case for change. Learn more: https://www.cummings.law/redomestication/

Attorney and CPA Chad D. Cummings explains Pennsylvania’s tax situation in this presentation. While the state is reducing its individual income tax rate to 3.07 percent and phasing down the corporate rate toward 4.99 percent, local income taxes in many municipalities, particularly Philadelphia’s high wage tax, push the combined rate significantly higher for business owners. Pennsylvania also maintains a 7.49 percent corporate income tax, limited net operating loss offsets, a low Section 179 expensing cap, an inheritance tax reaching 15 percent, and other structural burdens. Florida and Texas impose no state personal income tax and offer far more competitive environments. This presentation shows how redomestication allows Pennsylvania business owners legally to move a company to a new state without dissolving the entity, without creating a new company, and on a completely tax-free basis while preserving the same FEIN, contracts, credit history, and bank accounts. If you own a business in Pennsylvania, the effective rate you actually pay may justify making the move. Learn more: https://www.cummings.law/redomestication/

Attorney and CPA Chad D. Cummings explains Oregon’s dramatic decline in tax competitiveness in this presentation. The state has fallen from 8th to 35th on the Tax Foundation’s 2026 State Tax Competitiveness Index, the largest drop of any state in the country, after adding a Corporate Activity Tax on gross receipts on top of its existing corporate income tax and maintaining one of the highest combined individual income tax burdens in the nation. In Portland, the combined state and local rate reaches 13.9 percent, and the state also imposes both an estate tax with a low $1 million exemption and other complex provisions. Florida and Texas impose no state personal income tax and offer far more competitive environments. This presentation shows how redomestication allows Oregon business owners to transfer their LLC or corporation to another state without dissolving the entity, without creating a new company, and on a completely tax-free basis while preserving the same FEIN, contracts, credit history, and bank accounts. If you own a business in Oregon, the trajectory of state policy makes clear why now is the time to act. Learn more: https://www.cummings.law/redomestication/

Attorney and CPA Chad D. Cummings examines Oklahoma’s tax competitiveness in this presentation. The state ranks 19th on the Tax Foundation’s 2026 State Tax Competitiveness Index after notable reforms including permanent full expensing, repeal of the capital stock tax, and reduction of the top individual income tax rate to 4.5 percent. However, Oklahoma still imposes bracket creep through non-indexed brackets, a throwback rule on corporate income, a combined state and local sales tax rate exceeding nine percent, and other structural provisions that fall short of zero-tax environments. This presentation shows how redomestication allows Oklahoma business owners to transfer a business to a new state without dissolving the entity, without creating a new company, and on a completely tax-free basis while preserving the same FEIN, contracts, credit history, and bank accounts. If you own a business in Oklahoma, the progress is real, but the state next door offers a better outcome. Learn more: https://www.cummings.law/redomestication/

Attorney and CPA Chad D. Cummings explains Ohio’s tax reality in this presentation. While the state is reducing its individual income tax rate to a competitive 2.75 percent, over six hundred municipalities impose their own local income taxes that can push the combined rate well above five percent in many areas. Ohio also relies on a Commercial Activity Tax based on gross receipts rather than profit, creating burdens that do not exist in states with no income tax. This presentation shows how redomestication allows Ohio business owners to transfer their company to a new state without dissolving the entity, without creating a new company, and on a completely tax-free basis while preserving the same FEIN, contracts, credit history, and bank accounts. If you own a business in Ohio, the headline state rate improvement is helpful, but the effective rate you actually pay may justify a better solution. Learn more: https://www.cummings.law/redomestication/

Attorney and CPA Chad D. Cummings examines North Dakota’s tax position in this presentation. The state ranks 11th on the Tax Foundation’s 2026 State Tax Competitiveness Index with one of the lowest individual income tax rates in the country at 2.5 percent. However, North Dakota’s revenue model depends heavily on volatile oil and gas severance taxes, it imposes a throwback rule on corporate income, and its pension system is funded at only 69 percent. These factors create risks that do not exist in states with no income tax. Florida and Texas impose no state personal income tax and offer more stable, competitive environments. This presentation shows how redomestication allows North Dakota business owners to transfer a company to a new state without dissolving the entity, without creating a new company, and on a completely tax-free basis while preserving the same FEIN, contracts, credit history, and bank accounts. If you own a business in North Dakota, the low rate is helpful, but zero remains the better outcome. Learn more: https://www.cummings.law/redomestication/

Attorney and CPA Chad D. Cummings examines North Carolina’s strong but incomplete tax competitiveness in this presentation. The state ranks 13th on the Tax Foundation’s 2026 State Tax Competitiveness Index with the lowest corporate income tax rate in the country at 2.0 percent and a legislated path to zero by 2030. However, North Carolina still imposes a 4.25 percent individual income tax, a franchise tax on net worth, limited Section 179 expensing, and other structural provisions that fall short of the zero-tax environments in Florida and Texas. This presentation shows how redomestication allows North Carolina business owners to transfer their company to another state without dissolving the entity, without creating a new company, and on a completely tax-free basis while preserving the same FEIN, contracts, credit history, and bank accounts. If you own a business in North Carolina, the progress is real, but zero remains the better number. Learn more: https://www.cummings.law/redomestication/

New York ranks dead last on the Tax Foundation’s 2026 State Tax Competitiveness Index, below New Jersey, California, and every other state in the country. In this presentation, Chad D. Cummings, CPA, Esq., explains why New York has become the clearest warning sign for business owners, including its 10.9 percent top state income tax rate, New York City’s 3.876 percent income tax, combined state and city rate reaching 14.776 percent, tax benefit recapture rule, convenience of the employer rule, estate tax, aggressive corporate tax structure, highest state and local debt per capita in the country, and new pied-a-terre tax on second homes and investor-owned apartments valued at $5 million or more. On $1 million of annual pass-through income, a New York City business owner can face $147,760 of state and city income tax, compared to zero in Florida and zero in Texas. The presentation also explains how business redomestication can transfer a company out of New York without dissolving the company, forming a new entity, losing its EIN, disrupting contracts, or sacrificing business credit history when handled with proper legal and tax formalities. Learn more: https://www.cummings.law/redomestication/

New Mexico has fallen from 20th to 28th on the Tax Foundation’s 2026 State Tax Competitiveness Index, making it one of the five most-declined states over the last six years. In this presentation, Chad D. Cummings, CPA, Esq., explains why New Mexico is losing ground, including its 2025 corporate tax increase to a flat 5.9 percent rate, 5.9 percent top individual income tax rate, gross receipts tax that pyramids through business-to-business transactions, combined state and local gross receipts tax rates reaching 9.44 percent, high per capita tax collections, energy-revenue dependence, and public pension plans funded at only 68 percent. The discussion also explains why New Mexico’s low property taxes and absence of an estate or inheritance tax do not offset the burden imposed on business owners through income taxes and gross receipts taxes. On $500,000 of annual pass-through income, New Mexico’s 5.9 percent income tax produces $29,500 of state income tax, compared to zero in Florida and zero in Texas. The presentation also explains how business domestication can transfer a company’s legal domicile to Florida or Texas without dissolving the company, forming a new entity, losing its EIN, disrupting contracts, or sacrificing business credit history when handled with proper legal and tax formalities. Learn more: https://www.cummings.law/redomestication/

New Jersey is one of the least competitive tax states in America, ranking 49th on the Tax Foundation’s 2026 State Tax Competitiveness Index, with only New York ranking worse. In this presentation, Chad D. Cummings, CPA, Esq., explains why New Jersey has remained near the bottom for more than a decade, including its 11.5 percent top corporate income tax rate, 10.75 percent top individual income tax rate, marriage penalty, inheritance tax, exit withholding on real property sales, and some of the highest property tax burdens in the country. The discussion also explains why New Jersey’s income tax, enacted in 1976 to reduce property taxes, did not replace the property tax burden but instead became an additional layer on top of it. On $1 million of annual pass-through income, New Jersey’s 10.75 percent income tax produces $107,500 of state income tax, compared to zero in Florida and zero in Texas. The presentation also explains how business redomestication can transfer a company’s legal domicile to Florida or Texas without dissolving the company, forming a new entity, losing its EIN, disrupting contracts, or sacrificing business credit history when handled with proper legal and tax formalities. Learn more: https://www.cummings.law/redomestication/

New Hampshire ranks third on the Tax Foundation’s 2026 State Tax Competitiveness Index after eliminating its interest and dividends tax on January 1, 2025, making it the only state in the Northeast with no individual income tax. In this presentation, Chad D. Cummings, CPA, Esq., explains why New Hampshire’s no-income-tax and no-sales-tax structure gives it a major regional advantage, while also addressing the costs that replace those taxes: a 7.5 percent Business Profits Tax, a separate Business Enterprise Tax based on compensation, interest, and dividends, limited expensing, a short net operating loss carryforward period, some of the highest property taxes in the country, and public pension plans funded at only 70 percent. For business owners leaving Massachusetts, Connecticut, New York, or other high-tax Northeastern states, New Hampshire may offer meaningful income tax relief, but its corporate and property tax structure can reduce the savings. The presentation also explains how business redomestication can transfer a company’s legal domicile to Florida or Texas without dissolving the company, forming a new entity, losing its EIN, disrupting contracts, or sacrificing business credit history when handled with proper legal and tax formalities. Learn more: https://www.cummings.law/redomestication/

Nevada has no individual income tax and no corporate income tax, but that does not make it automatically equal to Florida or Texas for business owners. In this presentation, Chad D. Cummings, CPA, Esq., explains why Nevada ranks 20th on the Tax Foundation’s 2026 State Tax Competitiveness Index despite receiving a tied-for-first ranking on the individual income tax component. The discussion covers Nevada’s Commerce Tax on gross receipts, Modified Business Tax on payroll, above-average sales tax rate, weaker unemployment insurance tax structure, and the practical difference between corporate domicile and operational domicile. Nevada remains a strong option for incorporation, with no franchise tax, no capital stock tax, no estate tax, no inheritance tax, and one of the most director-favorable business judgment rules in the country. But for owners who live and operate outside Nevada, the no-income-tax benefit does not materialize unless residency, operations, and entity planning align. The presentation also explains how business domestication can transfer a company’s legal domicile without dissolving the company, forming a new entity, losing its EIN, disrupting contracts, or sacrificing business credit history when handled with proper legal and tax formalities. Learn more: https://www.cummings.law/redomestication/

Nebraska has made real progress on tax rates, but lower rates do not fix a tax code with structural traps. In this presentation, Chad D. Cummings, CPA, Esq., explains why Nebraska ranks 22nd on the Tax Foundation’s 2026 State Tax Competitiveness Index, including its 5.2 percent top individual income tax rate, 4.55 percent flat corporate income tax rate, scheduled corporate rate reduction to 3.99 percent, and one of the strongest public pension systems in the country at 98 percent funded. The discussion also addresses the problems that remain, including Nebraska’s convenience of the employer rule for remote workers, one-day nonresident filing and withholding rule, capital stock tax, above-average property taxes, inheritance tax, and revenue shortfalls that could prevent future scheduled rate cuts. On $500,000 of annual pass-through income, Nebraska’s 5.2 percent income tax produces $26,000 of state income tax, compared to zero in Florida and zero in Texas. The presentation also explains how business redomestication can transfer a company to another state without dissolving the company, forming a new entity, losing its EIN, disrupting contracts, or sacrificing business credit history when handled with proper legal and tax formalities. Learn more: https://www.cummings.law/redomestication/

Missouri has one of the better tax codes in the country, but “better” is not the same as “tax-free.” In this presentation, Chad D. Cummings, CPA, Esq., explains why Missouri ranks 12th on the Tax Foundation’s 2026 State Tax Competitiveness Index, including its 4.0 percent flat corporate income tax rate, strong corporate and unemployment insurance tax rankings, capital gains exemption, low per capita tax collections, solid pension funding, and absence of a throwback rule, capital stock tax, inventory tax, gross receipts tax, estate tax, or inheritance tax. The discussion also addresses the limits of Missouri’s position, including its 4.8 percent top individual income tax rate, local earnings taxes in Kansas City and St. Louis, high combined sales tax rates in many jurisdictions, and the fact that the proposed income tax phase-out has not yet passed. On $500,000 of annual pass-through income, Missouri’s state income tax produces $24,000 of tax, and the figure can exceed $27,000 when local earnings taxes apply. In Florida and Texas, the same state-level personal income tax figure is zero. The presentation also explains how business redomestication can transfer a company to a new state without dissolving the company, forming a new entity, losing its EIN, disrupting contracts, or sacrificing business credit history when handled with proper legal and tax formalities. Learn more: https://www.cummings.law/redomestication/

Missouri has one of the better tax codes in the country, but “better” is not the same as “tax-free.” In this presentation, Chad D. Cummings, CPA, Esq., explains why Missouri ranks 12th on the Tax Foundation’s 2026 State Tax Competitiveness Index, including its 4.0 percent flat corporate income tax rate, strong corporate and unemployment insurance tax rankings, capital gains exemption, low per capita tax collections, solid pension funding, and absence of a throwback rule, capital stock tax, inventory tax, gross receipts tax, estate tax, or inheritance tax. The discussion also addresses the limits of Missouri’s position, including its 4.8 percent top individual income tax rate, local earnings taxes in Kansas City and St. Louis, high combined sales tax rates in many jurisdictions, and the fact that the proposed income tax phase-out has not yet passed. On $500,000 of annual pass-through income, Missouri’s state income tax produces $24,000 of tax, and the figure can exceed $27,000 when local earnings taxes apply. In Florida and Texas, the same state-level personal income tax figure is zero. The presentation also explains how business redomestication can transfer a company to a new state without dissolving the company, forming a new entity, losing its EIN, disrupting contracts, or sacrificing business credit history when handled with proper legal and tax formalities. Learn more: https://www.cummings.law/redomestication/

Mississippi has made real tax reforms, but business owners should not confuse improvement with tax neutrality. In this presentation, Chad D. Cummings, CPA, Esq., explains why Mississippi ranks 27th on the Tax Foundation’s 2026 State Tax Competitiveness Index, including its move to a 4.0 percent flat individual income tax, permanent full expensing for machinery and equipment, scheduled capital stock tax elimination, and absence of estate or inheritance taxes. The discussion also addresses the structural risks that remain, including Mississippi’s graduated corporate income tax, throwback rule on corporate income, 7.0 percent state sales tax, low per capita tax base, and public pension system funded at only 57 percent. On $500,000 of annual pass-through income, Mississippi’s 4.0 percent income tax produces $20,000 of state income tax, compared to zero in Florida and zero in Texas. The presentation also explains how business redomestication can transfer a company’s legal domicile to Florida or Texas without dissolving the company, forming a new entity, losing its EIN, disrupting contracts, or sacrificing business credit history when handled with proper legal and tax formalities. Learnmore: https://www.cummings.law/redomestication/

Minnesota has become one of the clearest examples of a high-tax state moving further away from regional tax competitiveness. In this presentation, Chad D. Cummings, CPA, Esq., explains why Minnesota ranks 44th on the Tax Foundation’s 2026 State Tax Competitiveness Index, including its 9.85 percent top individual income tax rate, second-highest corporate income tax rate in the country, alternative minimum taxes on individuals and corporations, capital gains surtax, estate tax, split-roll property tax system, and proposed wealth tax on non-real assets exceeding $10 million. The discussion also compares Minnesota to lower-tax neighboring states and explains the practical cost to pass-through business owners, including how $1 million of annual pass-through income can produce $98,500 in Minnesota state income tax, compared to zero in Florida and zero in Texas. The presentation also explains how business redomestication can transfer a company’s legal domicile to Florida or Texas without dissolving the company, forming a new entity, losing its EIN, disrupting contracts, or sacrificing business credit history when handled with proper legal and tax formalities. Learn more: https://www.cummings.law/redomestication/

Michigan is still a competitive tax state, but its position is slipping while faster-moving states cut income tax rates, corporate tax rates, and business costs. In this presentation, Chad D. Cummings, CPA, Esq., explains why Michigan fell from 11th to 16th on the Tax Foundation’s 2026 State Tax Competitiveness Index, how the state’s 4.25 percent flat income tax can exceed 6 percent when local city income taxes apply, and why the delayed 2028 ballot initiative to raise the top income tax rate to 9.25 percent should concern business owners before it appears on the ballot. The discussion also covers Michigan’s corporate income tax, lack of full expensing, tangible personal property tax, automotive-sector tariff exposure, reduced revenue projections, and the practical tax difference between remaining in Michigan and relocating to Florida or Texas. The presentation also explains how business redomestication can transfer a company to another state without dissolving the company, forming a new entity, losing its EIN, disrupting contracts, or sacrificing business credit history when handled with proper legal and tax formalities. Learn more: https://www.cummings.law/redomestication/

Massachusetts has become one of the clearest examples of how quickly a once-competitive tax state can become hostile to high earners and business owners. In this presentation, Chad D. Cummings, CPA, Esq., explains how Massachusetts fell from 36th to 43rd on the Tax Foundation’s 2026 State Tax Competitiveness Index after voters approved a constitutional amendment creating a 9 percent top individual income tax rate on income above $1 million. The discussion covers the impact on pass-through business owners, Massachusetts corporate excise tax, unemployment insurance taxes, estate tax, transfer tax, public debt, pension funding pressure, and why future tax increases remain a material risk. The presentation also explains how business redomestication can allow a company to move its legal domicile to Florida or Texas without dissolving, forming a new entity, losing its EIN, disrupting contracts, or sacrificing business credit history when handled with proper legal and tax formalities. Learn more: https://www.cummings.law/redomestication/

Attorney and CPA Chad D. Cummings explains Maryland’s aggressive tax increases and declining competitiveness in this presentation. The state now ranks 46th on the Tax Foundation’s 2026 State Tax Competitiveness Index after enacting one of the most aggressive tax packages in the country in 2025, including a new top individual income tax rate of 6.5 percent, higher county income taxes, a capital gains surcharge, and new taxes on digital services. Maryland is also the only state with both an estate tax and an inheritance tax, plus a digital advertising tax. These burdens create a combined individual income tax rate that can reach 9.8 percent in high-tax counties. Florida and Texas impose no state personal income tax and offer significantly lighter overall tax environments. This presentation shows how redomestication allows Maryland business owners to transfer their existing LLC or corporation to a new state without dissolving the entity, without creating a new company, and on a completely tax-free basis while preserving the same FEIN, contracts, credit history, and bank accounts. If you own a business in Maryland, the direction of state policy makes clear why now is the time to act. Learn more: https://www.cummings.law/redomestication/

Attorney and CPA Chad D. Cummings explains Maine’s tax situation in this presentation. While the state improved to 26th on the Tax Foundation’s 2026 State Tax Competitiveness Index, that gain came largely from statistical changes in other states rather than meaningful tax reform. Maine still maintains one of the highest corporate income tax rates in the country at 8.93 percent, a throwback rule, limited expensing, and is considering a millionaire’s tax that would push the top individual rate to 9.15 percent. These provisions continue to create significant costs for businesses. Florida and Texas impose no state personal income tax and offer far more competitive environments. This presentation shows how redomestication allows Maine business owners to transfer their company to a new state without dissolving the entity, without creating a new company, and on a completely tax-free basis while preserving the same FEIN, contracts, credit history, and bank accounts. If you own a business in Maine, the current tax structure may justify making the move. Learn more: https://www.cummings.law/redomestication/

Attorney and CPA Chad D. Cummings examines Louisiana’s significant tax reforms and remaining challenges in this presentation. The state has made major progress, replacing its graduated individual income tax with a flat 3.0 percent rate and improving its corporate tax structure, which helped it climb nine places on the Tax Foundation’s 2026 State Tax Competitiveness Index. However, Louisiana still has the highest combined state and local sales tax rate in the country at 10.1 percent, no centralized sales tax administration across 64 parishes, and continues to tax business inventory. This presentation shows how redomestication allows Louisiana business owners to transfer their company’s legal domicile to Florida or Texas without dissolving the entity, without creating a new company, and on a completely tax-free basis while preserving the same FEIN, contracts, credit history, and bank accounts. If you own a business in Louisiana, the income tax improvements are helpful, but the overall burden remains higher than in states with no income tax. Learn more: https://www.cummings.law/redomestication/

Attorney and CPA Chad D. Cummings examines Kentucky’s tax reform progress and remaining challenges in this presentation. The state has reduced its individual income tax rate to 3.5 percent with a phased path toward further cuts and eventual elimination, representing one of the more ambitious reform efforts in the country. However, business owners must currently navigate a Limited Liability Entity Tax on gross receipts, local income taxes that vary by jurisdiction, an inventory tax, a low Section 179 expensing cap, and a pension system funded at only 54 percent. These structural burdens remain even as the state works toward lower rates. Florida and Texas impose no state personal income tax and offer far simpler, more competitive environments. This presentation shows how redomestication allows Kentucky business owners to convert their company’s legal domicile to Florida or Texas without dissolving the entity, without creating a new company, and on a completely tax-free basis while preserving the same FEIN, contracts, credit history, and bank accounts. If you own a business in Kentucky, the current costs while waiting for further phase-outs may justify making the move now. Learn more: https://www.cummings.law/redomestication/

Attorney and CPA Chad D. Cummings examines Kansas’s tax position in this presentation. The state ranks 23rd on the Tax Foundation’s 2026 State Tax Competitiveness Index with a top individual income tax rate of 5.58 percent that kicks in at a very low income threshold, a graduated corporate rate reaching 7.0 percent, and a throwback rule that taxes out-of-state sales. While Kansas is attempting further reforms, those reductions depend on revenue triggers and remain subject to political risk. Florida and Texas impose no state personal income tax, giving business owners a clear advantage. This presentation shows how redomestication allows Kansas companies to transfer their company's home state to Florida or Texas without dissolving the entity, without creating a new company, and on a completely tax-free basis while preserving the same FEIN, contracts, credit history, and bank accounts. If you own a business in Kansas, the gap between your current rate and zero is significant and growing. Learn more: https://www.cummings.law/redomestication/

Attorney and CPA Chad D. Cummings highlights Iowa’s remarkable tax reform journey in this presentation. The state has climbed from 43rd to 17th on the Tax Foundation’s 2026 State Tax Competitiveness Index with a flat individual and corporate income tax rate now at 3.8 percent and scheduled to drop to 3.5 percent. These changes represent one of the most aggressive reform stories in the country. Yet Iowa still imposes a 3.8 percent state income tax plus local income taxes in many counties, taxes tangible personal property, and faces the largest revenue shortfall relative to trend of any state. Florida and Texas impose no state personal income tax at all. This presentation shows how redomestication allows Iowa business owners to transfer their company to a new state, like Florida or Texas, without dissolving the entity, without creating a new company, and on a completely tax-free basis while preserving the same FEIN, contracts, credit history, and bank accounts. If you own a business in Iowa, the progress is impressive, but zero remains the better number. Learn more: https://www.cummings.law/redomestication/

Attorney and CPA Chad D. Cummings examines Indiana’s tax competitiveness in this presentation. The state ranks tenth on the Tax Foundation’s 2026 State Tax Competitiveness Index with a 3.0 percent flat individual and corporate income tax rate scheduled to drop further. However, Indiana’s 92 counties can add local income taxes ranging from 0.5 percent to 3.0 percent, pushing the effective combined rate as high as 6.0 percent in some areas. This hidden local burden makes Indiana less competitive than its headline rate suggests, especially when compared to Florida and Texas, which impose no state personal income tax at all. For a pass-through business with five hundred thousand dollars in annual income, the difference can exceed twenty-seven thousand dollars per year. This presentation shows how redomestication allows Indiana business owners to move their company to Florida or Texas without dissolving the entity, without creating a new company, and on a completely tax-free basis while preserving the same FEIN, contracts, credit history, and bank accounts. If you own a business in Indiana, the effective rate you actually pay may justify making the move. Learn more: https://www.cummings.law/redomestication/

Attorney and CPA Chad D. Cummings explains why Illinois continues to lose businesses and residents in this presentation. The state ranks 38th on the Tax Foundation’s 2026 State Tax Competitiveness Index with the third-highest corporate income tax rate in the nation at 9.5 percent, the highest property taxes in the country, and public pensions funded at only 52 percent. A proposed constitutional amendment would raise the top individual income tax rate to 7.95 percent and lock it in, removing the legislature’s ability to reverse course. Meanwhile, Florida and Texas impose no state personal income tax and offer far more competitive environments. This presentation shows how redomestication allows Illinois business owners to transfer their company’s home state to Florida or Texas without dissolving the entity, without creating a new company, and on a completely tax-free basis while preserving the same FEIN, contracts, credit history, and bank accounts. If you own a business in Illinois, the trajectory makes clear why now is the time to act. Learn more: https://www.cummings.law/redomestication/

Attorney and CPA Chad D. Cummings examines Idaho’s strong but not optimal tax position in this presentation. The state has earned a top-ten ranking, climbing to ninth on the Tax Foundation’s 2026 State Tax Competitiveness Index with a flat 5.3 percent individual and corporate income tax rate. While this represents meaningful progress and Idaho offers low debt, strong pension funding, and no estate tax, neighboring states deliver better outcomes. Florida and Texas impose no state personal income tax at all. For a pass-through business generating five hundred thousand dollars in annual income, that 5.3 percent rate equals twenty-six thousand five hundred dollars per year that simply does not exist in those states. This presentation shows how redomestication allows Idaho business owners to change a company's state to Florida or Texas without dissolving the entity, without creating a new company, and on a completely tax-free basis while preserving the same FEIN, contracts, credit history, and bank accounts. If you own a business in Idaho, this could be the strategic decision that maximizes your long-term savings. Learn more: https://www.cummings.law/redomestication/

Attorney and CPA Chad D. Cummings explains why Hawaii remains one of the least competitive tax jurisdictions in the country in this presentation. The state ranks 41st on the Tax Foundation’s 2026 State Tax Competitiveness Index with twelve income tax brackets topping out at 11 percent, a $25,000 Section 179 expensing cap, a 20 percent estate tax, and a throwback rule that penalizes companies with out-of-state sales. These structural burdens, combined with high per capita tax collections and severely underfunded pensions, continue to drive residents and businesses away. Florida and Texas impose no state personal income tax and offer far more competitive environments overall. This presentation shows how redomestication allows Hawaii business owners to transfer their company to Florida or Texas without dissolving the entity, without creating a new company, and on a completely tax-free basis while preserving the same FEIN, contracts, credit history, and bank accounts. If you own a business in Hawaii, the numbers make a strong case for change. Learn more: https://www.cummings.law/redomestication/

Attorney and CPA Chad D. Cummings analyzes Georgia’s tax competitiveness in this presentation. The state has made impressive progress, climbing from 28th to 18th on the Tax Foundation’s 2026 State Tax Competitiveness Index with a flat 5.19 percent individual and corporate income tax rate scheduled to drop further to 4.99 percent. Yet Georgia remains surrounded by stronger competitors: Florida and Tennessee impose no state income tax, while North Carolina’s rates are lower and continue to decline. For a pass-through business with $500,000 in annual income, that 5.19 percent difference equals $25,950 per year that stays in the business when domiciled in Florida or Texas. This presentation explains how redomestication allows Georgia business owners to move the company to a new state without dissolving the entity, without creating a new company, and on a completely tax-free basis while preserving the same FEIN, contracts, credit history, and bank accounts. If you own a business in Georgia, the numbers next door make the case for action. Learn more: https://www.cummings.law/redomestication/

Attorney and CPA Chad D. Cummings explains the extreme tax and fiscal burden facing businesses in the District of Columbia in this presentation. DC collects the highest tax revenue per capita in the nation at $15,009, yet it also carries the highest per capita debt at $32,166 and ranks 48th on the Tax Foundation’s 2026 State Tax Competitiveness Index. With a top individual income tax rate of 10.75 percent, an 8.25 percent corporate rate, complex compliance rules, and structural weaknesses that push high earners to neighboring states, the District continues to extract more while delivering less competitive conditions. Florida and Texas impose no state personal income tax and offer significantly lighter overall burdens. This presentation shows how redomestication allows business owners to transfer their company to a new state without dissolving the entity, without creating a new company, and on a completely tax-free basis while preserving the same FEIN, contracts, credit history, and bank accounts. If your business is domiciled in DC, the numbers make a compelling case for change. Learn more: https://www.cummings.law/redomestication/

Attorney and CPA Chad D. Cummings presents this important overview of why Florida remains one of the strongest states for business ownership and how redomestication provides flexibility when life requires a move. Florida ranks fifth nationally on the Tax Foundation's 2026 State Tax Competitiveness Index with no state personal income tax, no estate tax, and a competitive corporate structure that applies only to larger C corporations. This presentation explains how redomestication works in both directions: bringing a company into Florida from a high-tax state or transferring your company out of Florida when personal circumstances such as family needs, spousal relocation, or new business opportunities arise. The process transfers your company's legal domicile without dissolution, without creating a new entity, and without triggering federal income tax when performed correctly. Your company keeps its FEIN, contracts, credit history, and bank accounts intact. Whether you are moving to Florida or need to take your Florida-domiciled company with you to another state, this presentation shows the proper legal path. Learn more: https://www.cummings.law/redomestication/