I don't think it's taxes so much as compliance cost of setting up and running a location. BigCo can hire specialists to figure out "ackshually no this is why my site plan is compliant than you very much" and hire them at cost whereas the local guy has to get kicked in this dick by some hired engineering firm's or law firm's profit margin for the same service aaaand gets a worse service on top because the local business who wants to keep doing business there can't fight for their client like some guy in an office at BigCo can.
Even if you control for the Amazon factor or the Walmart factor by looking at services, the bulk of these "successful" businesses are either chains or owned by a bigger corperate entity that can do kind of the same thing.
There's some truth to this. Compliance costs can be huge, particularly if you're dealing with anything that's toxic or dangerous. I worked at small electronics manufacturer in the 90s that spent an incredible amount of money making sure the area they washed the circuit boards with alcohol was up to code and all the paperwork was filled out properly. We didn't have anybody working there who even knew what the rules were.