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    2 Replies Latest reply on Dec 31, 2009 9:10 AM by DWW467

    What state is best to form my LLC?

    drwllc Newbie

      A friend in California set up an LLC in Nevada for asset protection, privacy and tax benefits. She uses a UPS Store for an address and mail forwarding. What are the pros and cons of this?
        • Re: What state is best to form my LLC?
          docmadeeasy Wayfarer

          An LLC gives you the protection of corporation and you have the advantage of not paying a corporate tax. With LLC you get to pay one income tax at the end of the year on your income from the LLC and other sources. I will register the LLC in the state you intend to do most of your business transactions and in which the LLC resides. With this you will reap all the benefits the state offers to local businesses in the state. You worry about the state of incorporation when you incorporate because some state charge franchise tax whether or not you make profit. Hope this helps you.
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          • Re: What state is best to form my LLC?
            DWW467 Newbie

            It depends in what type of Business you plan to engage in. If you are doing alot of out of state business

            you may consider Delaware, Wyoming or Nevada. If your plan is to do just local business, there are

            advantages to setting up in your state. Here are some links to help you out. www.delawarecorp.

            www.wyomingcorp
            . www.nevadacorp. These will help give you some ideas what the cost, advantages and

            dis-advatages are for each state. What type of business is your friends ?