I know a little about this...
The laws are pretty much the same. Most state laws were enacted following a uniform code. Meaning, the Feds provided a guideline and the individual state assemblies followed suit...
Unless you plan to attract employees with stock options or retain earnings from year-to-year
ALWAYS organize as an LLC. Here's why:
1. It offers all the liability protection that a corporation provides,
2. You can select what is called "your IRS tax treatment", meaning that as an LLC you actually dictate to the IRS if they will tax your company as a corporation, S-corp, a sole proprietorship, or a partnership.
This is huge and here's why.
If you are what is called a
single-member LLC (meaning you are the only "owner") your company will not need to file a separate tax return. All you do is fill out
this form and report the income on your personal 1040 (no accountant needed). This is why single-member LLCs are often referred to as "pass-throughs", the income literally passes through the LLC and straight to you. The advantage that this offers over a corporation is that you avoid the expense of filing a separate return for your company and thereby avoid the dreaded "double taxation"...
The other advantage that an LLC has over corporation is the laws require corporate entities to hold official annual shareholder meetings (even if you're the only shareholder) and document the minutes of the meeting. Whereas with an LLC, you only need to file an annual statement. Which, in most states is a one-page form just asking you to re-verify your address (literally sign, date, and mail form to the state).
Setting up an LLC is very simple also, whereas with a corporation you have to issue stock (of course you are also taxed on the number of shares you issue by most states). Since you're on the East Coast, I would seriously consider organizing in Delaware. Since I am in the Midwest, my favorite is (believe it or not) Michigan. Since their economy is in the crapper, Michigan lacks the resources to impose stiff oversight. Hence they are very lax. Here is all you do:
1. Chose a name for your business (make sure no one else is using it already).
2. Fill-out
this form
3. Fill out
this form
4. Get a bank account (the patriot act requires that the address you provide the bank match the address in your articles of organization AND be a physical address-NOT a P.O. Box).
5. File a "DBA" (in MI, that is done at the state, not county level) dropping the "LLC" from your name. So if you organized as ABC, LLC, Fila DBA as ABC.
DONE. That's all there is to it.
BUT, there are also some more advanced techniques like:
1. anonymous LLC's (wouldn't only the state tax authorities knows your identity)
2. assets specific LLC's (when you organize and LLC around individual assets-this is done for many reasons)
3. multi-layer LLCs (which someone earlier described as a trust)
4. ***IBC/APT***(the mother of all entities: setting this one up will set you back 30k up front and will cost half that to maintain).
Kinda like Black Hat SEO is for the posers in this business, most attorneys will just look at you cockeyed if you bring up the above four. They will literally think "Tony Soprano" if you ask (no lie, I've had it happen more than once).
Skype me if want (username: infideleo). I'm around today.