The Business Formation Statistics (BFS) measure business initiation activity and the cycle from initiation to realized business formation. BFS data is acquired by reviewing Employer Identification Number applications made on IRS Form SS-4, this provides an early look at business formation activity within the U.S.
Shown here are the High-Propensity Business Applications, a subset of applications that contains all applications with a high-propensity of turning into a business with a payroll. Maps are divided into two time-intervals: all business applications and post Covid-19 lockdown measures in March 2020. Full information about the dataset is available here.
What's up with Wyoming? Along with Nevada and Delaware, Wyoming is considered a business-friendly state due to low corporate tax rates. In addition to low taxes, Wyoming also does not have any administrative fees for incorporating a business which leads to appears to have led to higher applications.
