Can you open an LLC outside your own state?

15 years ago

Definitely you can. You just need a registered agent, and there are many companies that offer this service as part of having them create your LLC for you.

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wbnetwork 15 years ago

I've heard Delaware and Nevada are the best states to open up LLC's for tax liability purposes.
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- Michael Motley 15 years ago
  
  Originally Posted by wbnetwork
  
  I've heard Delaware and Nevada are the best states to open up LLC's for tax liability purposes.
  
  ^^^
  
  plus i think you can do it online for like 50 bucks for these two states, thats why so many of the late night phone line deals are from nv and de
  
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PaulRoddik

15 years ago

Count Maryland in the list.

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BizBooks

15 years ago

yes, you can.

you don't even need a registered agent, but you should have one for service.

does it pay?

that depends on lots of different angles...

you may need to file in your home state to obtain permission to do business as a foreign corporation.

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LB

15 years ago

Yes, you can. However, you will then most likely have to register the "foreign" company in your own state and you will still pay taxes etc. to your home state.

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yourreviewer

15 years ago

Originally Posted by LB

Yes, you can. However, you will then most likely have to register the "foreign" company in your own state and you will still pay taxes etc. to your home state.

Hey LB,
Can you let me know what you meant by registering the foreign company in your own state? I am currently in New Jersey but will be moving to Tennesse very soon and hence would I have to file it for both New Jersey and Tennesse?

Thanks,
Dan

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LB

15 years ago

Originally Posted by yourreviewer

Hey LB,
Can you let me know what you meant by registering the foreign company in your own state? I am currently in New Jersey but will be moving to Tennesse very soon and hence would I have to file it for both New Jersey and Tennesse?

Thanks,
Dan

A quick Google search turned up this:

A corporation or LLC is registered in another state must obtain foreign qualification to operate in Tennessee in accordance with the Tennessee Secretary of State.

Basically, you're operating a company in the state you live in- so even though it's registered in another state you are still operating where you live.

For tax purposes, how can you deduct office supplies in Tennessee when you're registered in Nevada?

It can get complicated, but the best thing to do is talk to a business attorney and an accountant to get their advice.

In my layman's experience, for most people there is probably little value registering a company outside of the state you live in unless you run a particularly high-risk or high-revenue operation and have a skilled legal team who has drawn up a plan for it.

But again, talk to an attorney and accountant about it.

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Gene Pimentel

15 years ago

Originally Posted by yourreviewer

Hello folks,
Can you open an LLC outside your own state? Please advise.

Thanks,
Dan

Dan,

If you're a member of the War Room, there is a thread by an attorney who specializes in this, and he's giving away a ton of advice and forms etc. If you're not a war room member, the information is worth the war room fee alone!

Thanks
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yourreviewer

15 years ago

Originally Posted by Gene Pimentel

Dan,

If you're a member of the War Room, there is a thread by an attorney who specializes in this, and he's giving away a ton of advice and forms etc. If you're not a war room member, the information is worth the war room fee alone!

Thanks Gene. I am a War Room member