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Best LLC states
This thread starts with a quote from another post @Jarland "taken the appropriate steps to register as a business and utilize proper accounting" I have been holding off on getting an LLC, but going from reseller to host I don't want to be a sole proprietor any longer. In CA it is a bit expensive tax wise, does anyone have any suggestions on which states they formed in and why?
Comments
Nigeria.
I think 101Domain is having a special on Nigerian TLDs.
We registered in West Virginia because Ryan lives there. There are other, less expensive forms of registration but of course you maintain liability.
My pops was born in Sutton WV
It's a beautiful state. I enjoyed driving up there to visit a while back. Wouldn't mind doing it again, until Ryan comes back to Texas where he's supposed to be!
For shinning! Great grand dad was the biggest in the tri-state area.
So forming in WV over TX?
With how we filed it would've been as easy here, but since he's a resident there and has some great contacts in the legal field it just made things a bit smoother. Sole proprietorship is something you could do easily for inexpensive, just remember the liability falls entirely on you. In small operation this isn't necessarily a bad thing to start with.
Wyoming apparently is the newer/better Nevada / Delaware, but IANAL.
Currently Catalyst is registered as a sole proprietorship. When I move back to Texas(it is bound to happen sooner or later), I will probably restructure as a LLC. Just knew residence here in WV would be temporary and figured for the time being it was the best option as given guidance by some of my legal support here in West By God Virginia.
Delaware
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West Virginia!!!! Country road. To the place. Where I belong!
While I'm not American, I always hear tax advantages in Delaware, and I think also in Nevada.
Wow, thanks! Just check it out and you are right.
Looks like $59 for agent fee per year if you don't live in Wyoming, plus $50 a year min state LLC report fee plus one time $100 to file with the state. This is cheap and they allow single member LLC.
Apparently, South Dakota is also a very good option.
See http://grasshopper.com/blog/2010/07/a-concise-guide-to-the-7-best-states-for-incorporating/
Ride on cowboy!
Excellent link!
Most companies register in Delaware, although if you are a small business, it might be easier to register in your state of residence.
Delaware - all the banks are in Delaware, minimal taxes and incnow.com can set you up pretty quickly
Nevada - crazy NV laws about lawsuits if I recall right...
Wyoming - minimal yearly forms/reporting
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