With Home and Business, can you have two authorized users from two different states?

No, that is not possible for a single, common data file. There can be only a single login setup for each data file.

Just as important is that Quicken is a personal financial planning tool, not a business financial planning tool. Quicken Home & Business is really designed more to support individuals who have rental properties or some other personal business. Trying to use it as a business financial management tool by multiple individuals tends to be very problematic.

For instance, the data files are designed to be saved and run locally on a single computer (laptop or desktop). Quicken specifically recommends not saving the main data file on a cloud account or network server (saving backup files there is OK) because running it from there and/or accessing the data file at the same time by multiple individuals can easily introduce data corruption that often is not easily recoverable, if recoverable at all. If you wish, you can read more about this in the following Support Article: https://www.quicken.com/support/can-i-share-my-quicken-file-between-multiple-computers-using-dropbox

If I am correctly understanding what you are trying to accomplish, you might be better off taking a look at Quickbooks or some other similiar type of business software. It is my understanding that Quickbooks does permit access by multiple people remotely and at the same time…and I'm assuming, allows multiple individual login IDs and PWs.