#LegalBytes: The Official Podcast of Cummings & Cummings Law

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/