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State for LLC

by gigajules
6 replies
I am considering creating a LLC for my offline biz. Does it matter if it is not in my home state? I heard that Nevada is good since there are some tax and corporate veil benefits.

Would there be a problem if I were to incorporate there?
#llc #state
  • Profile picture of the author nrmillions
    i have heard that for single member LLC's Nevada and Wyoming offer the strongest protection. for multi member LLC's it is usually best to form it in your own state from what i have heard. a lot can depend on what kind of business it is. i am not an attorney though so you should do a little more research online.
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  • Profile picture of the author byalik
    For a small business, it doesn't particularly matter but you should consult with a local lawyer to discuss the various benefits of doing it locally as opposed to another state like Delaware
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  • Profile picture of the author NACAdam
    Wyoming has some benefits too different from Nevada and if you make them into C Corps even better
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  • Profile picture of the author Tobarja
    This isn't really for offline, but I recall someone that lives in California saying they were using their LLC in Nevada to still be able to be an Amazon affiliate.
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  • Profile picture of the author SamJ
    My advice (and what I did):

    Just form it in your own state. Your state likely requires that you register your out of state LLC in state, which comes with more high fees, and you will have lots of tax complexities if you form an LLC in a different state. Taking advantage of differing state laws to lower your taxes is not easy, and comes with upfront costs (like hiring an accountant who knows these loopholes, as well as state fees). It's much simpler to deal with only one state.

    Of course, I'm not a tax lawyer or an accountant or anything.
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  • Profile picture of the author milla04
    Starting a new business is simple, however if incorporated in the wrong state you will be paying extra cash out of your profits. I hear most people talk about Nevada, Wyoming or Delaware. But from my research and LLC i have formed the one that comes out on top is New Mexico, why.. No monthly fees which include, no tax, shares and yearly filings like all states require. One state in particular Delaware at least require a $250 yearly fee if you incorporate an LLC and on top of that you still have to pay registered agent fees which could cost $99 a year.. This is all adding up now. So, new mexico would cost you $100 for 5 years (thats all the yearly fees included) if you can find a cheap price or the worst case scenario $99 a year. Which is still a saving of $250 compared to Delaware.

    All the best
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