LLC Nevada or Delaware?
 

It appears that llc has no tax liability whereas corporation does, however, I found out that formation costs far less in Nevada & Delaware & the corporate agencies state there are advantages to formation in these states..

Can anyone familiar with this topic outline the advantages of Nevada or Delaware for formation of corporation, or in my case, I'll be going LLC..

Also, not physically being in those states, what pitfalls, headaches or grief would I have to deal with....

What ever you do stay away from the guys in the back of the business mags.....

Spacedog, the reason a LLC has no taxes is because they are passed directly to it's members. Your share of a LLC's taxes go on your personal income.

Also if your primary business is not done in that state, you will also incur your local state's taxes :) So there is almost no advantage for the averge joe to incorporate there.

Now for mega corps it makes sense because the laws are heavily inclined to protect the owners from libalitiy in those states, or if you do business locally then you have significant tax advatages.

Either way if you run a real business get a real accountant :)

my share would be 100%.. so, if I go with close corp., hmm.. I need to think this through before doing anything... :1orglaugh


so, the corp would get taxed,, then I'd have to write myself a paycheck.. pay income tax on my paycheck, then deduct my own paycheck from my own corporations expenses & write it off as a business expense, lol...

:1orglaugh :1orglaugh :thumbsup

I have a neveda s-corp, the s-corp was chosen for me by my accountant, he asked me some questions to find out what would be best for me then said s-corp would save me the most, so thats what happened...
talk to a good accountant and get his opinion on what type of incorporation you should do.