Best State To Raise a Family
(WalletHub, 1st in 2020; 2nd in 2021)
3 Jul 2025
News
Every year, more professionals take the leap into entrepreneurship, and more often than not, they're forming LLCs to do it. According to the IRS, LLCs made up 72.7% of all partnerships in 2022, far surpassing other entity types for the last two decades.
Why? LLCs combine the liability protection of a corporation with the simplicity and flexibility of a sole proprietorship. But those aren't the only reasons they've become the go-to structure for startups, solo professionals, and even families looking to preserve generational wealth. Here's why the LLC continues to gain momentum — and what that signals for the evolving business landscape.
Best State To Raise a Family
(WalletHub, 1st in 2020; 2nd in 2021)
in Voter Participation
(U.S. Elections Project, 2020)
Best State for Women and for Working Moms and Dads
(Wallethub, 2020)
in Volunteering
(Corporation for National and Community Service)
in Child Well-Being
(Kids Count Report, 2021)
in Healthy People
(2021 Camelot Index)