Loudoun County Among Best Places for Small Business Owners In VA

LOUDOUN COUNTY, VA — Loudoun County ranks highly among Virginia localities for the best places for small business owners, according to a new SmartAsset study.

SmartAsset ranked localities using three factors: the proportion of people in a county with small business income, how much business income they reported and the potential income tax a resident pays. Those three factors were equally weighted when determining the small business index score.

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For the first two factors, the analysis looked at the number of tax returns that report small business income compared to the total tax-filing population of that area. SmartAsset then compared the total small business income to the overall income reported in that area.

To determine the third factor, SmartAsset used the national median household income with relevant deductions and exemptions. Then, the study calculated federal, state and local income taxes for each location. Because Virginia does not have local income taxes, the income tax amounts calculated for all localities were the same: $11,032.

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Loudoun County ranked seventh overall among Virginia localities with a small business index score of 39.81. The county ranked seventh overall for the percentage of small business returns — 28.46 percent — and less highly percentage of small business income with 7.87 percent.

Rappahannock County ranked first overall with the highest percentage of small business returns — 35.83 percent. Loudoun County's neighbors ranked highly as well. Fairfax County came in fourth, Falls Church City ranked third overall, while Alexandria ranked ninth, Fairfax City ranked 13th and Arlington County ranked 14th.

The full study from SmartAsset can be viewed here.

Loudoun County's government is currently working with small business owners in an attempt to mitigate the spread of the delta variant of the coronavirus. The county is hosting virtual workshops to help businesses learn how to keep employees and customers safe.

Read more: Delta Variant Cases Surge As Loudoun Prepares New Recommendations

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