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Does it matter what state you register your LLC in?
Answer. A business is pretty much free to form a limited liability company (LLC) in any old state. But you may still need to qualify your LLC to do business in your home state — and this means you’ll have to file additional paperwork and pay additional fees.
How are LLCS taxed in Nevada?
Nevada is one of only a very few states that does not have a personal income tax or a corporation income tax. Moreover, because Nevada also doesn’t have a personal income tax, LLC members generally will owe no state tax on income they earn from a Nevada LLC.
How does Nevada compare to Wyoming for new LLC and Corporation?
Nevada competes most directly with Wyoming for new LLC and Corporation formations. They have similar asset protection and tax benefits. They are slightly less anonymous, however, and have higher fees. The Nevada Secretary of State charges nearly $300 to start and LLC and $500 for a Corporation.
What is the difference between Delaware and Nevada corporate law?
In general, Delaware, through its developed legal system and laws protecting shareholder rights, is geared toward the large complex public corporations, whereas Nevada and Wyoming are more attractive to the small privately held corporations and LLCs.
What are the best States to start an LLC in?
Like Nevada, Wyoming is also highly recommended for privacy and low costs. It was the first state to allow the formation of LLCs, back in 1977 and is still a top pick among investors. Among the incentives: No tax on business income and no franchise tax. Plus, members can be even “more” anonymous than those in Nevada.
Should I incorporate in Wyoming or Delaware?
Delaware will remain the go to jurisdictions for large corporations. If you are raising capital or taking your company public, then chances are your investors may even force you to incorporate in Delaware. In such cases you may use a Wyoming LLC to hold your shares in the Delaware corporation.