Thanks for being my accountant, papa. I updated my W-9 as an S-corp based on your say-so. :thumbsup:
Best US state to incorporate
- Thread starter BlueYonder
- Start date
Better not incorp in the US. For tax reasons. Better incorp off shore. However, if has to be done, DE has the lowest tax brackets...
I am in the process of redoing my corp from an "S" to LLC., and moving it from Delaware to Nevada. Nevada has no income tax, except for the new $200 business fee. Delaware has an income tax. I want to live in California. Soooo... Nevada or Delaware is best? I have no plans to reside in either state. I just want to pay the lowest taxes possible, and not stir up the IRS.
WV is also a good state. However, I went to Google and put in "best state to incorporate a small business". You will be surprised at what you get. In general, it is a trade off. The biggest catch is that you will have to register in California as a foreign corporation and you may need an agent in the state of incorportation, which means a lawyer.
Before forming an "S" Corp. take a close look at an LLC. It offers the same protection and distribution of funds in many states.
Good luck,
Wayne
I did form an LLC, and will file taxes as an S-corp. The W-9 has a space for defining how you will file. S-corp and C-corp are the only options.
When I was opening up a business checking account it took twice as long because the NY state business license I got looked a little different than the usual paper they were expecting to see. Forming in WY got me a foreign license, and the bank people were totally unprepared for that. They were calling all over the place, checking me out with the department of state, and it took over an hour before they were satisfied.
