A guide to help you understand the ins and outs of business in Massachusetts
Massachusetts is the most populous state in New England with 6.89 million residents. Although Massachusetts is the 6th smallest state in the country, Boston, the state’s capital and largest city, is the most populated city in the region, helping make the state the 15th most populous in the US. In 2019, Massachusetts’ GDP was $596,593,000,000.
Professional and business services Real estate and educational services, health care and social assistance are some of the state’s key industries.
In 2019, Massachusetts imported $705,125 from Qatar. Its top imports are: Special classification provisions Paper, paperboard and articles thereof Aircraft, spacecraft and articles thereof In 2019, Massachusetts exported $21,911,498 to Qatar with its top exports being: Electrical machinery, sound/tv equipment Optic, photo, medical/surgical instruments Nuclear reactors, boilers, machinery, etc.
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Massachusetts has a flat corporate tax rate of 8%. There are three free trade zones, located in Boston, New Bedford and Springfield. Massachusetts boasts the third most incentive programs in the US, with 76. The Workforce Training Fund Program (WTFP), the Vanpool Credit, Small Business Lending, and the State Trade Expansion Program (STEP) are just a couple examples of such incentive programs.